SoftBank Group has announced that it will commit approximately US$3 billion to kickstart a second fund that will prioritize providing the necessary capital injection to start-ups in Latin America.
Following a disappointing array of events in 2019 that resulted in the failed IPO of WeWork, SoftBank has made a full comeback, reasserting its status as a leading global tech investor.
The firm is now looking to further increase its bold bet on a region that is gradually becoming home to many valuable startups.
SoftBank’s Latin America Fund II will focus on investing in firms utilizing technologies like artificial intelligence, while also seeking out viable e-commerce, blockchain, and fintech deals.
SoftBank has earmarked about US$3 billion for the fund and has set Miami, São Paulo, and Mexico City as the primary locations from which the fund will be operated.
“There is so much innovation and disruption taking place in Latin America, and I believe the business opportunities there have never been stronger,” SoftBank CEO Masayoshi Son said in the press release.
Pan Finance is a print journal and news website providing worldwide intelligence on finance, economics and global commerce. Known for our in-depth analysis and opinion pieces from esteemed academics and celebrated professionals; our readership consists of senior decision makers from across the globe.