Investments
40Funds
1
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Latest MAGIC Fund News
May 11, 2023
Egypt’s fintech Balad has raised a seven-figure pre-Seed round led by Acasia Ventures. Other investors in the round included Launch Africa, Future Africa, V&R, Magic Fund, First Circle, Sunny Side, and several family offices. This is the fintech’s first funding round. Founded in 2022 by Adham Azzam, Sally Asaad and Mohamed Assem, Balad is a [...] The post Egypt’s Fintech Balad Secures Seven-Figure Pre-Seed Fund Round Led by Acasia Ventures appeared first on Innovation Village | Technology, Product Reviews, Business.
MAGIC Fund Investments
40 Investments
MAGIC Fund has made 40 investments. Their latest investment was in Balad as part of their Pre-Seed on May 5, 2023.

MAGIC Fund Investments Activity

Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
5/8/2023 | Pre-Seed | Balad | Yes | Acasia Group, First Circle, Future Africa, Launch Africa, MAGIC Fund, Sunny Side Ventures, Undisclosed Investors, and V&R Africa | 8 | |
4/21/2023 | Pre-Seed | Rebel Tech | $1.64M | Yes | 1 | |
3/20/2023 | Seed VC | Credable | $2.5M | Yes | Acacia Ventures, Adaverse, Asia Africa Investment Consulting, EMURGO, Launch Africa, MAGIC Fund, Undisclosed Angel Investors, and Ventures Platform | 13 |
2/23/2023 | Seed VC | |||||
2/1/2023 | Bridge |
Date | 5/8/2023 | 4/21/2023 | 3/20/2023 | 2/23/2023 | 2/1/2023 |
---|---|---|---|---|---|
Round | Pre-Seed | Pre-Seed | Seed VC | Seed VC | Bridge |
Company | Balad | Rebel Tech | Credable | ||
Amount | $1.64M | $2.5M | |||
New? | Yes | Yes | Yes | ||
Co-Investors | Acasia Group, First Circle, Future Africa, Launch Africa, MAGIC Fund, Sunny Side Ventures, Undisclosed Investors, and V&R Africa | Acacia Ventures, Adaverse, Asia Africa Investment Consulting, EMURGO, Launch Africa, MAGIC Fund, Undisclosed Angel Investors, and Ventures Platform | |||
Sources | 8 | 1 | 13 |
MAGIC Fund Fund History
1 Fund History
MAGIC Fund has 1 fund, including MAGIC Fund II.
Closing Date | Fund | Fund Type | Status | Amount | Sources |
---|---|---|---|---|---|
7/6/2021 | MAGIC Fund II | $30M | 2 |
Closing Date | 7/6/2021 |
---|---|
Fund | MAGIC Fund II |
Fund Type | |
Status | |
Amount | $30M |
Sources | 2 |
MAGIC Fund Team
4 Team Members
MAGIC Fund has 4 team members, including current Managing Partner, Adegoke Olubusi.
Name | Work History | Title | Status |
---|---|---|---|
Adegoke Olubusi | eBay, PayPal, and Goldman Sachs | Managing Partner | Current |
Name | Adegoke Olubusi | |||
---|---|---|---|---|
Work History | eBay, PayPal, and Goldman Sachs | |||
Title | Managing Partner | |||
Status | Current |
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