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Mago Capital is a venture capital firm based in São Paulo, Brazil, founded in 2021 by the founders of Locaweb, the country's first major web hosting company. The firm operates with a hybrid investment strategy, making direct investments in high-potential startups while also backing selected venture capital funds. This dual approach allows Mago to leverage its extensive network and operational expertise to support innovation and growth within the Brazilian startup ecosystem.
Currently, Mago Capital has a team of six members, including four co-founders with entrepreneurial backgrounds. The firm has established itself as a significant player in the Brazilian venture capital scene, focusing on early-stage investments across various sectors. Mago Capital has also secured limited partner positions in 19 leading Brazilian VC funds, enhancing its influence and reach in the market.
Since its inception, Mago has made notable strides in the investment landscape, particularly through its direct investments in transformative startups. The firm’s connection to Locaweb provides a strong foundation for identifying and supporting innovative ventures, positioning Mago Capital as a key contributor to Brazil's startup growth.
Mago Capital employs a hybrid investment strategy that encompasses both direct investments in startups and co-investments in venture capital managers. The firm primarily targets early-stage startups that are preferably already backed by a fund within its portfolio. This alignment between direct investments and fund-backed startups is crucial for ensuring strong execution, positive unit economics, and access to large addressable markets.
The sectors of interest for Mago Capital include healthcare, edtech, legaltech, AI, web3, fintech, agtech, consumer, and logistics. The firm seeks to partner with managers and founders who are prepared to lead significant transformations in their respective industries. Mago Capital emphasizes the importance of operational expertise and strategic insights, which are integral to its investment thesis.
Investors at Mago Capital look for startups that demonstrate strong execution capabilities and possess a clear path to profitability. The firm’s investment strategy is designed to create synergies between its direct investments and the funds it supports, fostering collaboration and growth opportunities across its portfolio.
Mago Capital's portfolio consists of 12 direct investments in various sectors, showcasing its commitment to transformative businesses. Notable companies include:
In addition to direct investments, Mago Capital holds limited partner positions in 19 prominent Brazilian VC funds, including Alexia, Astella, and Monashees, further solidifying its presence in the Brazilian venture capital landscape.
André Melman — Co-founder and Managing Partner. André has a background in entrepreneurship and has been instrumental in shaping Mago Capital's investment strategy.
Gilberto Mautner — Co-founder. Gilberto is also a co-founder and Chairman of Locaweb, bringing extensive experience in the tech industry and venture capital.
Claudio Gora — Co-founder. Claudio has a strong entrepreneurial background and contributes to Mago's strategic direction.
Ricardo Gora — Co-founder. Ricardo's experience in business development and management supports Mago's operational initiatives.
Thaís Fontoura — Associate. Thaís plays a key role in deal sourcing and portfolio management, leveraging her analytical skills.
Julio Cavalcanti — Analyst. Julio assists in research and analysis, contributing to Mago's investment decision-making process.
To pitch Mago Capital, founders should use the contact email investidor@mago.capital or visit their website at mago.capital. It is essential to include a comprehensive pitch deck that outlines the business model, market opportunity, and financial projections. Mago Capital appreciates clarity and detail in presentations.
Response times may vary, but founders can expect to hear back within a few weeks. Warm introductions through mutual connections can enhance the chances of a successful pitch.
In 2023, Mago Capital made headlines with its investment in Tractian, a leading industrial AI/IoT company that raised over $120 million in its Series B funding round. This investment highlights Mago's commitment to supporting transformative technologies in Brazil.
Additionally, Mago Capital has expanded its portfolio by adding several promising startups across various sectors, including healthcare and edtech. The firm continues to strengthen its position in the Brazilian venture capital landscape through strategic investments and partnerships.
As of late 2023, Mago Capital remains focused on identifying and supporting innovative leaders capable of driving significant change in their industries, aligning with its investment thesis.
What are Mago Capital's investment criteria?
Mago Capital focuses on early-stage startups that demonstrate strong execution capabilities, positive unit economics, and large addressable markets. The firm prefers startups that are already backed by a fund within its portfolio to ensure alignment and collaboration.
How can founders apply or pitch to Mago Capital?
Founders can pitch to Mago Capital through their website at mago.capital or by emailing investidor@mago.capital. It is advisable to include a detailed business plan and financial projections in the pitch deck.
What makes Mago Capital different from other venture capital firms?
Mago Capital employs a unique hybrid strategy that combines direct investments in startups with investments in venture capital funds. This approach allows the firm to leverage its extensive network and operational expertise, providing added value to its portfolio companies.
What is Mago Capital's geographic focus?
The firm primarily focuses on investments within Brazil, targeting the local startup ecosystem and leveraging its connections to support growth in the region.
What is Mago Capital's post-investment involvement like?
Mago Capital actively engages with its portfolio companies, providing operational support, strategic insights, and access to its extensive network. The firm aims to foster collaboration between its direct investments and fund-backed startups.
What is the typical check size for investments made by Mago Capital?
Specific check sizes are not publicly disclosed, but Mago Capital focuses on early-stage investments, which typically range from seed to Series A funding rounds.
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