Magic Funds Set to Support MSME’s with $30M

Driven by belief in startups and technology, Magic funds has revealed that it has rolled out a total of $30 million in support of Medium, Small and Micro Enterprises in Fintech, Healthcare, and Software area of the company.

In a statement by the Founder, Temi Marcella Awogboro the company which launched in 2017, said it has invested in 70 companies at pre-seed and seed stages globally including Retool, Novo, Payfazz, Mono and  Bamboo.

“We will support early-stage startups globally, with funding between $100,000 and $300,000. The firm’s focus will be on Fintech, healthcare, Software as a Service (SaaS) and enterprise, women’s health, and developer tools.

“We have 12 founders who act as general partners and Its Africa-focused investments will be overseen by Kauffman Fellow and founder GP, Temi Marcella Awogboro, who is also a Partner in MAGIC’s investments in Healthcare, Fintech and female founders cohorts.

“Driven by belief in the central role of technology in bridging the gap between emerging and developed nations. I have been privileged to operate at the intersection of healthcare, finance, technology.

“I am passionate about investing in and nurturing revolutionary companies that will emerge as today’s regional champions and tomorrow’s global challengers.” Awogboro said.”

The company said the support for these startups will go beyond money, as each partner is able to provide value by leveraging their unique experience and network, and guiding them through the discovery of product-market fit, facilitate introductions, and support with expansion into new regions, strategy, marketing, fundraising, and strategic hiring.

The company therefore called for entry of pitches from interested entrepreneurs via their website, hat@magic.fund.