> ## Content Index
> Fetch the complete content index at: https://www.techloy.com/llms.txt
> Use this file to discover other available public pages before exploring further.

# MAGIC Fund raises $30 million to fund startups in emerging markets
- URL: https://www.techloy.com/magic-fund-raises-30-million-to-fund-startups-in-emerging-markets/
- Published: 2021-07-07T13:20:26.000Z
- Updated: 2021-08-06T15:23:53.000Z
- Description: The Fund raised $30 million to continue backing early-stage startups across Africa, Latin America, and Southeast Asia.
- Author: Techloy
- Tags: / Money, / Startups

[MAGIC Fund](https://www.magic.fund/), a global collective of founders, which has backed African startups such as Mono[,](https://twitter.com/investbamboo) Bamboo, Voyance, and Eden, says it has raised a $30 million fund to continue backing early-stage startups across Africa, Latin America, and Southeast Asia.

MAGIC Fund II will be writing checks between $100,000 and $300,000 in early-stage companies across different sectors and geographies. Since its debut in 2017, the fund has invested in 70 companies through its Fund I, including US-based Novobank, Indonesia's Payfazz, Colombia's Frubana, Nigeria's Mono, and US-based Retool.