MAGIC Fund Raises USD 30 Mn To Scale Founders Backing Fund

The MAGIC Fund, a global network of founders, has announced a USD 30 Mn funding round to support entrepreneurs in Africa, Europe, Latin America, North America, and Southeast Asia. The fund’s general partners are the fund’s 12 founders.

Since the firm’s first fund launched in 2017, MAGIC has invested in 70 companies at pre-seed and seed stages across these emerging markets. Some of these companies include Retool, Novo, Payfazz, and Mono.