About Magma Partners 

Magma is an early-stage venture capital firm in Latin America

Founded in 2014 by Nathan Lustig and Francisco Saenz, Magma Partners has invested in 120+ founding teams across Latin America. Magma is currently investing out of its 4th fund investing in founders solving Latin America's biggest problems.

magma by the numbers
Startups funded

The Magma Partners Investment Thesis

Magma invests in the best founders solving Latin America's biggest problem. We can be your first investor at pre-seed or lead your Series A or anything in between. We are a generalist fund looking for scalable, technology businesses that solve Latin America's biggest problems.

We have invested in nearly all Latin American countries and our fully remote team is spread across Mexico, Chile, Colombia, Panama, and Argentina.

Our Latest Publications

Useful resources for founders, investors, and specialized media.

Media Mentions

Selected news stories about Magma and Magma portfolio companies



Nathan Lustig

Managing Partner

Originally from the US, Nathan Lustig is Magma’s co-founder and Managing Partner and has been living in Latin America since 2010. 

Lustig started on the entrepreneur side of the table, starting and selling two startups. In 2010, he participated in the Start-Up Chile pilot round and then stayed in Latin America, cofounding multiple businesses and then Magma Partners in 2014 with Francisco Saenz. 

Nathan has led 100+ investments in Latin American startups during the past eight years while spending time in Chile, Colombia, and Mexico.

Francisco Saenz


Francisco Saenz cofounded Magma Partners in 2014 as a way to diversify his own Family Office’s investments and give back to the next generation of Latin American entrepreneurs.

Francisco has helped many family offices into the entrepreneurship ecosystem who have followed his example. In addition to Magma, he leads his Family Office with businesses in retail, banking, manufacturing, and insurance in companies like Parque Arauco, Isapre Cruz Blanca, Envases del Pacífico and more. 

Today, Francisco helps portfolio companies with connections to Latin America’s largest businesses and helps Magma raise money from Family Offices within his network.

Pedro Pablo del Campo


Originally from Chile, Pedro Pablo del Campo joined Magma in 2018. 

Before joining Magma, Pedro founded several businesses in his native Chile including a design firm and a vending machine company, which was acquired in 2014. He has lived in the US between Austin and New York, immersing himself in the tech ecosystem. 

In 2016 he joined Techstars to expand their programs in Latin America and has spearheaded initiatives to build bridges between the US and Latin American ecosystems.

Mak Gutierrez


Mak Gutierrez leads Magma’s portfolio support team from Guadalajara, Mexico. 
Mak joined Magma in 2020 after Magma acquired Rampa Ventures, a startup accelerator Mak founded in 2018. Today, he supports Magma’s portfolio companies to accelerate their expansion and growth across Latin America via our in-house portfolio services. 

Mak holds a BA in Design from ITESO where he also taught UX and product design. Previously, he worked for a Silicon Valley startup, which helped him understand firsthand how tech can drive change in Latin America.

meet the magma team

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