This post is the third in a series about Latin American venture capital ecosystems. Read the post on the Chilean Venture Capital, Peru Venture Capital, Highlighting Latin American Startups. Hopefully it’s helpful. Thanks to Monica Avila from Magma and Andres Barreto from Social Atom for reviewing drafts of this post and improving it.
Social Atom Ventures – A $30m investment fund with offices in Medellin and Bogota. They invest into early stage companies that have their technology team in Latin America, but whose target market is the US. We’ve done two co-investments with them.
Torrenegra Labs – Accelerator and early stage investor based in Bogota. 20 investments. 5 exits.
Magma Partners – Monica Avila is our lead in Colombia. We plan to invest in 1-2 companies per year. Additional presence in Chile, Mexico, USA.
Axon – Late stage capital. Six investments.
I’m excited to welcome Mónica Ávila Forero to Magma to lead our Colombia team. Mónica, based in Bogota, has worked in the entrepreneurial ecosystem from all sides for the past 15 years: she’s started her own startups, worked with Ventures, a private NGO to build the Colombia ecosystem, and has worked closely with and mentored Colombia entrepreneurs, helping them figure out their business models, connect with potential investors and scale their businesses. I’m really excited to work with Mónica to help entrepreneurs in the Colombian market!
Why Colombia? (more…)
I’m just back from my third trip to Colombia since 2012. Before my first trip, I didn’t know what to expect and wrote a blog post about the experience. I came back in 2015 and 2016 and saw huge positive changes in Cartagena. I also went to Medellin, a beautiful city nesteled in a mountain valley for the first time. This post compares my experience from 2012 with 2016 and talks about why Medellin is a hidden gem that’s just starting to get its due both for tourism, but also as a potential tech hub in South America.
In 2012, a group of Chilean friends and I planned to go to Colombia’s north coast for two weeks and hang out on its beautiful tropical beaches.
I had studied a bit of Colombia in high school Spanish class, as my teacher was Colombian and wanted to share Colombia’s natural beauty with us. Being high schoolers, most of us only wanted to learn about Pablo Escobar, the drug gangs, movies, the violence, the civil war, how someone could murder a soccer star after scoring an own goal (watch the documentary, its really good)…pretty much the only news about Colombia we ever heard in the US. (more…)