Magma Partners teams up with Kr Space for first China-Latin America Accelerator

Magma Partners Founders Team

Early stage venture capital firm Magma Partners has teamed up with Chinese co-working space Kr Space to launch the first Sino-Latin America Accelerator to help Chinese businesses access Latin American market and vice versa, the company said in a statement.

Magma Partners announced the launch of the Sino-Latin America Accelerator as it made the first close of its second $15-million fund to continue supporting the growth of US incorporated startups with technology and sales teams based in Latin America.

The Sino-Latin America Accelerator will have a physical presence with Kr Space in Shanghai and Beijing, host monthly events, and provide a space for both investors and Chinese and Latin American entrepreneurs to come together, Magma Partners said.

“Cooperation between China and Latin America has never been more important, and we believe that the Sino-Latin America Accelerator will be a key building block for both startup ecosystems,” said Jie Hao, Partner, Magma Partners.

In addition to helping Chinese entrepreneurs access the Latin American market, the accelerator program will be an opportunity for Latin American entrepreneurs to learn about doing business in China. The accelerator will help entrepreneurs source products, services, technology, and investment from China.

“The Sino-Latin America Accelerator represents an opportunity for Kr Space to continue supporting Chinese entrepreneurs in new ways and in new markets like Latin America, which we see as a strategic next step over the next decade,” said Dong Bo, Vice President of Kr Space.

A spin-off of Ant Financial-backed 36Kr, Kr Space operates 30 co-working spaces in eight cities in China, including Beijing, Shanghai, Hangzhou, Suzhou, and Nanjing.

Meanwhile, Magma Partners said its $15-million Magma Fund II will invest in 60 pre-seed and seed-stage companies over the next three years in the Latin American region. Since 2014, the company has supported 32 pre-seed and seed-stage companies with founders from 10 countries.

Also Read:

China’s Kr Space raises $92m in funding from IDG Capital, Gobi, others

China:Prometheus Capital & IDG lead $30m investment in KR Space

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.