Founder Resources
How Magma Partners thinks about HR tech in Latin America
In this article, we share how we think about HR tech in Latin America: the three main types of HR tech startups we see, the common traps, and what we look for when investing.
Note: you may want to read up on our investment process before reading this article.
We strongly suggest you review this NFX guide on storytelling and how to get the most out of pitch meetings before a call with us or any VC.
Every conversation with a VC that sees 1000s of deals per year is a datapoint on your business. We might not be right, but it's likely other VCs will have similar concerns, and many times we are right.
We always want a conversation, but many VCs will want to see slides and go through the deck. Ask up front.
We prefer practical explanations vs sophisticated ones. We want the meetings to be as if we’re meeting for a coffee or a beer, and to get to know you.
Spanish is a more formal language than English, and in a 30 min call, it’s a negative. Don’t answer what you think we asked. Just answer the question directly.
After you answer a question, pause for a few seconds, or ask "does that make sense", so we can have a conversation and ask a follow up. It's a big turnoff if we just get talked at for 5-10 minutes at a time and need to interrupt you.
Don’t cut off our team, especially our female team members, it’s a big turn off. It’s one of the biggest things I tell our portfolio founders, especially when meeting US VCs.
Our team is smart and has experience, but you know much more about your industry than we do. Make sure to be able to explain your business to us in terms that a friend who isn’t in tech would understand.