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Founded in 2017, MAGIC Fund is an early-stage venture capital firm based in the United States, with a mission to support founders by other founders. The firm has successfully raised $30 million for its second fund, which focuses on investing in pre-seed and seed-stage companies across various sectors, including healthcare, consumer services, and SaaS. With a portfolio of 162 companies, MAGIC Fund emphasizes a high volume of investments to maintain a diverse and dynamic portfolio. The firm operates on a unique distributed model of founder-GPs, allowing it to leverage the expertise and networks of its partners who have firsthand experience in building successful companies. This model not only enhances the firm's ability to identify promising startups but also fosters collaboration among founders, providing them with valuable mentorship and strategic guidance. MAGIC Fund's geographic focus spans North America, Africa, Latin America, and Southeast Asia, reflecting its commitment to empowering entrepreneurs on a global scale. The firm has built a strong reputation for its innovative approach to venture capital, positioning itself as a leader in the early-stage investment landscape.
MAGIC Fund primarily invests in early-stage companies at the pre-seed and seed stages, with check sizes ranging from $50,000 to $500,000. The firm is particularly interested in sectors such as healthcare, consumer services, and SaaS, where it believes innovative solutions can have a significant impact. By focusing on a high volume of investments, MAGIC Fund aims to maintain a diverse portfolio that spans multiple geographies and industries. The fund's investment strategy is centered around supporting founders who are developing groundbreaking solutions in their respective fields. This commitment to diversity not only enhances the firm's portfolio but also allows it to tap into various market trends and opportunities. MAGIC Fund looks for entrepreneurs who demonstrate a strong vision, resilience, and the ability to execute their ideas effectively. The firm believes that founders with firsthand experience in building companies are best positioned to understand the challenges and opportunities in their respective markets, making them ideal partners for investment.
MAGIC Fund boasts a diverse portfolio of 162 companies, with notable investments including Payfazz, Retool, Frubana, and Novo. Payfazz is a mobile banking and payments platform catering to Southeast Asia, while Retool has emerged as a leading no-code software solution for building internal tools, achieving unicorn status. Other significant portfolio companies include Akido, which operates the largest public health data network in the US, and Homebase, a real estate financing platform in Vietnam. The fund has also invested in innovative startups like Proof, which enhances web conversions through social validation, and Kiwibot, known for its autonomous delivery robots. The firm has seen successful exits with companies like Mono and Surf, both of which were acquired, showcasing MAGIC Fund's ability to identify and nurture high-potential startups. With a strong emphasis on sectors such as healthcare and consumer services, MAGIC Fund continues to expand its portfolio, reflecting its commitment to supporting entrepreneurs who are creating impactful solutions.
Adegoke Olubusi - Managing Partner with extensive experience in early-stage investments and a strong network in the startup ecosystem.
Matt Greenleaf - Operating Partner focused on operational excellence and strategic growth for portfolio companies.
Thomas Chen - GP, North America, specializing in investments ranging from $100K to $500K.
Adeel Yang - GP, North America, co-founder of Medumo, bringing healthcare expertise.
Michael Lisovetsky & Troy Osinoff - GPs, North America, founders of Juice, focusing on innovative consumer solutions.
Temi Marcella Awogboro - GP, Africa, with a strong background in emerging markets.
Dimeji Sofowora - GP, Europe, experienced in healthcare investments.
Alison Cheung - GP, Europe, focusing on technology-driven startups.
Hendra Kwik - GP, Southeast Asia, founder of Payfazz, with insights into fintech.
Elvis Zhang - GP, Southeast Asia, founder of Oxy2, specializing in tech solutions.
To pitch MAGIC Fund, founders should visit their website at magic.fund. The fund prefers pitches that clearly articulate the business model and market opportunity. They welcome both warm introductions and cold applications, but a well-prepared pitch is essential for consideration.
MAGIC Fund has been actively investing in a diverse range of early-stage companies, with recent notable investments including Juicyway and Klasha. The firm led a $1 million Series A round for Mosie Baby alongside 37 Angels, demonstrating its commitment to supporting innovative startups. As of December 2024, MAGIC Fund has made over 110 investments, reflecting a significant increase from 70 at the launch of Fund II in 2021. The firm continues to expand its portfolio, which includes a unicorn (Retool) and several successful acquisitions, showcasing its ability to identify and nurture high-potential startups.
MAGIC Fund primarily invests in early-stage companies, focusing on pre-seed and seed stages. This allows the firm to support startups at critical points in their development.
Founders can pitch MAGIC Fund through their website at magic.fund. The fund encourages pitches that clearly outline the business model, market opportunity, and the founding team's background.
MAGIC Fund invests in various sectors, including healthcare, consumer services, and SaaS. The firm seeks innovative solutions that can scale globally across these industries.
The typical check size for MAGIC Fund ranges from $50,000 to $500,000, allowing the firm to maintain a high volume of investments in early-stage companies.
MAGIC Fund has a global investment focus, including regions such as North America, Africa, Latin America, and Southeast Asia, reflecting its commitment to empowering entrepreneurs worldwide.
Founders interested in applying for investment can submit their pitches through the MAGIC Fund website. The firm values clear communication of the business vision and potential.
MAGIC Fund adds value to its portfolio companies by leveraging the expertise of its founder-GPs, who provide mentorship, strategic guidance, and access to valuable resources.
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