Mago Capital
Mago Capital is a São Paulo-based hybrid venture capital firm, founded in 2021 by the founders of Locaweb, that invests both in selected Brazilian VC fund managers and directly in Brazilian startups across multiple verticals.
- Company typePrivate
- Founded2021
- HeadquartersSão Paulo, Brazil
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Mago Capital does
Mago Capital is a privately held Brazilian venture capital firm founded in 2021 in São Paulo by the founders of Locaweb (André Melman and Claudio Gora, together with co-founders Gilberto Mautner and Ricardo Gora). The firm operates a hybrid investment strategy that combines fund-of-funds exposure — commitments to 19 Brazilian VC managers including Alexia, Astella, Monashees, Maya Capital, Mindset Ventures, OneVC, Positive Ventures, ScaleUp, Valor, Vox, and Way Carbon — with direct equity and co-investments in 13 Brazilian startups spanning agtech (Agrolend), F&B (Brendi), diagnostics (Labi), legaltech (Jusfy), industrial tech (Tractian), blockchain (W3block), education (Education Journey), and other verticals.
The firm has a six-person team (two general partners, two additional co-founders, an associate, and an analyst) and serves two primary customer segments: VC fund managers seeking LP commitments, and startup founders seeking direct equity capital. Deal sourcing is community-led and relationship-driven, relying on personal and professional networks, the firm's LinkedIn presence, an Airtable-based inbound form for founders, and a dedicated investor email address. Revenue mechanics are not publicly disclosed; the firm is understood to earn returns through management fees on fund commitments and capital gains on direct equity positions.
In November 2025, Mago Capital expanded beyond Brazil and beyond traditional VC by securing an investment loan from Eldridge to acquire The Notting Hill Gate Estate, a mixed-use commercial property in London anchored by M&S, Tesco, and McDonald's. This transaction represents the firm's first disclosed UK deployment and its entry into commercial real estate, signaling a multi-strategy direction consistent with a family-office-style investment platform rather than a pure-play VC fund.
Mago Capital firmographics
Firmographics- Name
- Mago Capital
- Legal name
- Mago Capital
- Website
- https://mago.capital
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Mago Capital is a São Paulo-based hybrid venture capital firm, founded in 2021 by the founders of Locaweb, that invests both in selected Brazilian VC fund managers and directly in Brazilian startups across multiple verticals.
- Ownership category
- akta.pro rank
Mago Capital industry classification
Industry- Product category
- Venture Capital
- NAICS
- Portfolio Management and Investment Advice (523940), Other Financial Vehicles (525990)
- SIC
- Investment Advice (6282), Real Estate Dealers (For Their Own Account) (6532)
- akta.pro primary industry
- Venture Capital Fund-of-Funds / Multi-Manager Platforms (FSANAAAJ)
- akta.pro secondary industry
- Real Estate Portfolio & Fund Management (Institutional/REIT/PE) (BPAJAMAJ)
Keywords
Where Mago Capital is headquartered
LocationHeadquarters
- HQ city
- São Paulo
- HQ country
- Brazil
- HQ region
- Latin America
Offices1 record
Markets served
Mago Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Others
Revenue model
- Investment Management Returns: Mago Capital generates returns through equity investments in venture capital funds and direct investments in startups. As a hybrid investor in both fund managers and founders, the firm likely earns management fees from fund investments and capital gains from equity positions.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
Mago Capital product offering
Product offeringCore offering
Mago Capital is a venture capital firm that deploys capital through a hybrid strategy combining fund-of-funds investments in selected venture capital managers with direct equity investments in high-potential startups. Founded by the founders of Locaweb, the firm focuses on Brazilian and Latin American fund managers and founders positioned to lead major market transformations, and is also expanding into UK real estate holdings.
Product overview
Mago Capital is a venture capital firm that operates a hybrid investment strategy, investing both in carefully selected venture capital funds and directly in high-potential startup businesses. The firm does not offer a technology product or platform; it is a financial investment services company. Its portfolio consists of direct investments and co-investments in startups (including Agrolend, Brendi, Cilia, Doji, Education Journey, Facio, Jusfy, Labi, Livance, Taon, Tractian, W3block, and Worc) as well as investments in VC fund managers (including Alexia, Astella, Barn, Big Bets, Canary, Cloud9, Iporanga, Maya Capital, Mindset Ventures, Monashees, OneVC, Positive Ventures, SaaSholic, ScaleUp, StaminaVC, Valor, Volpe Capital, Vox Capital, and Way Carbon).
Differentiator
Problem solved
Functional benefit
Products and services
- Fund of Funds Venture Capital Investments Capital commitments to carefully selected venture capital fund managers in Brazil and Latin America, including Alexia, Astella, Barn, Big Bets, Canary, Cloud9, Iporanga, Maya Capital, Mindset Ventures, Monashees, OneVC, Positive Ventures, SaaSholic, ScaleUp, StaminaVC, Valor Capital, Volpe Capital, Vox Capital, and Way Carbon. Targets VC managers ready to lead major transformations.
- Direct Startup Equity Investments Direct equity investments and co-investments in high-potential Brazilian startups, including Agrolend, Brendi, Cilia, Doji, Education Journey, Facio, Jusfy, Labi, Livance, Taon, Tractian, W3block, and Worc. Provides capital, strategic guidance, and network access to founders.
Companies that use Mago Capital
Customer profileNamed customers3 records
Segments2 records
Ideal customer profiles2 records
Mago Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Mago Capital partnerships and signals
Strategic signalScale indicators3 records
Recent moves4 records
Expansion highlights4 records
Mago Capital competitors and assessment
Company assessmentDirect peers
- Valor Capital Group: Brazil/US cross-border VC firm with comparable direct-investment thesis in Brazilian tech; also a portfolio fund of Mago Capital.
- Monashees: One of Brazil's largest venture capital firms investing across Latam at multiple stages; a comparable operator in Brazilian tech investing and also a portfolio fund in which Mago Capital holds an LP position.
- Kaszek Ventures: Largest Latam-dedicated VC firm with multi-stage Brazilian tech focus; a direct competitor for high-quality Brazilian deals and a comparable institutional-scale operator.
- Confrapar: Brazilian VC/PE firm with multi-stage and sector-specialized funds; comparable direct-investment mandate and Brazilian market focus.
- Atlantico: Latin American venture capital platform with multi-strategy approach across funds and direct deals; comparable operating scale and Brazilian/Latam mandate.
- Maya Capital: Brazilian early-stage VC fund focused on diverse founders; comparable early-stage Brazilian thesis and a portfolio fund of Mago Capital.
- Positive Ventures: Brazilian impact-focused VC investing across Latam; comparable geographic focus and a portfolio fund of Mago Capital.
- Astella: Brazilian early-stage VC with operator-led investment approach; comparable stage focus and a portfolio fund of Mago Capital.
- Canary: Brazilian early-stage VC investing in transformative technologies; comparable Brazilian early-stage thesis and a portfolio fund of Mago Capital.
Broad incumbents
- BNDESPar: Investment arm of the Brazilian National Development Bank; one of the largest institutional investors in Brazilian VC funds, comparable institutional scale and Brazil-focused capital deployment mandate.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Mago Capital social profiles
Digital presenceMago Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Mago Capital leadership team
Management profileNumber of profiles
Profiles6 records
Mago Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Mago Capital M&A and investment
M&A and investmentM&A
Investments12 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Mago Capital
What does Mago Capital do?
Mago Capital is a venture capital firm that deploys capital through a hybrid strategy combining fund-of-funds investments in selected venture capital managers with direct equity investments in high-potential startups. Founded by the founders of Locaweb, the firm focuses on Brazilian and Latin American fund managers and founders positioned to lead major market transformations, and is also expanding into UK real estate holdings.
Is Mago Capital a public or private company?
Mago Capital is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Mago Capital founded?
Mago Capital was founded in 2021. It employs 1 to 10 people.
Where is Mago Capital based?
Mago Capital is headquartered in São Paulo, Brazil, in the Latin America region.
How does Mago Capital make money?
One revenue line is on record: investment Management Returns.
Who are Mago Capital's main competitors?
Direct peers on record are Valor Capital Group, Monashees, Kaszek Ventures, Confrapar, Atlantico, Maya Capital, Positive Ventures, Astella and Canary. BNDESPar is listed as a broad incumbent.
Does Mago Capital have an API?
No public API is recorded for Mago Capital.
What industry is Mago Capital in?
Mago Capital's product category is Venture Capital. Its primary akta.pro industry code is FSANAAAJ, Venture Capital Fund-of-Funds / Multi-Manager Platforms, with a secondary code of BPAJAMAJ, Real Estate Portfolio & Fund Management (Institutional/REIT/PE). Its NAICS code is 523940 and its SIC code is 6282.