https://techcrunch.com/2020/02/27/magma-partners-scores-50m-to-build-the-a16z-of-latin-america/

Magma Partners has more than doubled the size of its investable capital with the close of its latest $50 million fund. The Santiago, Chile-based venture firm founded in 2013 had secured $21 million that made up the outfit’s second fund, which it raised after closing its debut fund with just $2.5 million. The firm’s largest fund to date comes as investment in Latin America has reached a record high. 

Magma has made 70 deals and its portfolio has seen three exits. General Partner Nathan Lustig tells me that Magma will continue to write $50,000 to $100,000 seed checks, and that its larger investments will range from up to $5 million to $7 million. The firm is targeting a few niches: