You can now find the full show notes of the Crossing Borders podcast on LatamList.com’s new podcast section. I’ll still post the audio of the podcast on my blog and I’m planning to start writing more again on my blog, like I used to.
Subscribe to the LatamList Weekly newsletter to get updated on the week’s top tech news and stories from the region.
Thanks for listening to Crossing Borders all these years! If you have any feedback or questions, please feel free to reach out here, or contact me on social media.
Outline of this episode:
- [01:30] – About 99 Startups
- [01:45] – Alejandro’s background
- [02:45] – Investing in real estate
- [03:43] – From tech enthusiast to angel investor
- [06:00] – Networking
- [07:18] – Angel investing versus fund investing
- [08:54] – Why did Alejandro start a fund?
- [10:20] – Alejandro’s podcast Fundadores
- [11:12] – Biggest lessons from producing a podcast
- [12:50] – 99 Startups’ thesis
- [14:46] – Reaching out to 99 Startups
- [15:14] – Advice to younger self
- [15:53] – Book and documentary recommendations
- [17:00] – What’s next for 99 Startups?
Shownotes on Latamlist.com
The term International Business Strategy is typically used to describe U.S. or Western companies looking to maximize profits through offshoring or outsourcing, or extending their sales into foreign markets. But Andres Barreto is doing things in the opposite direction. He’s working to encourage Latin American startups to focus on the U.S. market and scale there, as well as encourage US companies to look to Latin America for the talented engineers and developers they need. But instead of outsourcing, they’re building integral startup teams in Latin America.
Two years ago my friend Diego introduced me to Francisco the head of one of Chile’s family offices. Francisco told us that he wanted to invest in startups and high growth small businesses not only because he thought Chile needed a fully private early stage startup fund to help entrepreneurs be successful, but also to potentially change how Chilean investors look at startups by showing them the way forward.
After working together for about six months, Francisco, Diego and I announced our first two investments, officially launching Magma Partners, a US$5M early stage investment fund powered 100% by capital from the three of us.
Our original plan was to invest in 4-6 companies per year, but we were inundated with qualified companies that needed capital, monitorship, connections and feedback from people who’d done it before. We received over 150 applications (more…)