The newest investment firm to open in Chile — Magma Partners — is looking to support the country’s many budding entrepreneurs giving startups the best chance possible at finding success.
The primary goal of Magma Partners is to increase transparency. For many the process of finding funding and getting their ideas off the ground is daunting, confusing, and long. The new firm promises to respond to every application within 48 hours and present a step by step layout of the necessary documents and investment process on their website.
Beyond financial support, the team behind Magma Partners is also made up of successful entrepreneurs who have a broad background that they intend to share with each new project they team up with.
“As entrepreneurs ourselves, our partnership means taking your business to the next level via investment, mentoring, connections and more. We don’t just dole out funding. We provide true acceleration, world class mentorship, connections in Chile, Latin America and abroad, and the push to help you make your business the success you envision,” the firm says on its website.
The three minds behind the firm are Francisco Sáenz, a widely successful Chilean businessman; Nathan Lustig, a young entrepreneur from the US who has already sold two of his own companies and is a Start-Up Chile success story; and Diego Philippi who, in addition to Start-Up Chile success, is a founding member of the International Festival of Social Innovation.
“We hope to help entrepreneurs in Chile grow their businesses to their full potential via investments, mentoring and connections to existing business,” Nathan Lustig told This is Chile. “We hope to bring the investment model that works in the United States to Chile.”
New companies that work with Magma Partners will be signing up for a three-month accelerator in which they will receive mentorship from not just the firm’s members, but leaders in the industry within Chile and abroad. After less than a month in business, the company has already closed two investments — surely just the beginning.
Chile continues to make itself known as a great place for business, both big and small. With innovative programs like Start-Up Chile to support new ideas and a strong economy to support it. The country has regularly been recognized as a top place for investment and business in Latin America, placing it in the top 15 in last year’s ‘World’s Best for Business’ list.