Thursday
July 8
2021

Magic Fund Raises $30 Million, to Give $100 – $300k Checks to Founders in Emerging Markets

By David Afolayan

MAGIC Fund, a global collective of founders that backs other founders to solve business challenges has announced a $30 Million Fund II raise to continue backing early-stage startups. A third of the fund was contributed by its founder Global Partners who share its unique vision and approach to supporting early-stage companies

With a proven track record and an expanded vision, the team at Magic is planning to use its new fund to back more early-stage companies. It announced that it will be writing checks between $100K and $300K in early-stage companies across different sectors and geographies.

Source: Technext (link opens in a new window)

Categories
Investing
Tags
business development, emerging markets, financial inclusion, impact investing, LMICs, startups