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    Softbank announces second Latin American fund of at least $ 3 billion

    Marcelo Claure, Executive Chairman of WeWork, during an interview with Andrew Ross Sorkin at WeWork headquarters in New York City on February 10, 2020.

    David A. Grogan | CNBC

    Softbank Group The Japanese technology conglomerate announced on Tuesday that it has committed $ 3 billion to kick-start a second fund focused on investing in Latin American start-ups.

    After the dire situation of WeWork’s IPO being abolished in 2019, SoftBank has resurfaced as a major technology investor around the world and is now stepping up its bets on areas where more and more valuable companies are planted. doing.

    Venture investors poured $ 9.3 billion into Latin America in the first six months of 2021, compared to $ 5.3 billion last year. Report from CB Insights.. Brazil’s Nubank has recently been valued at $ 30 billion and has become one of the most valuable venture support companies in the world. The company will be released soon.

    In a blog post titled “The Latin American Startup Opportunity” in July, a partner at venture Sequoia wrote that “market opportunities are there and the ecosystem is ready and booming.” Sequoia is an investor in Nubank.

    SoftBank’s Latin America Fund II focuses on investing in companies that utilize technologies such as artificial intelligence, e-commerce, digital financial services, and scouting in blockchain projects. SoftBank has already committed $ 3 billion to the fund and will operate in Miami, São Paulo and Mexico City.

    “There is so much innovation and turmoil in Latin America that I think the business opportunities there are stronger than ever,” Softbank CEO Masayoshi Son said in a release. rice field.

    Marcelo Claure, SoftBank’s Chief Operating Officer and former Sprint CEO, is leading the investment in the region. WeWork Executive Chairman from Bolivia leads the first $ 5 billion SoftBank Latin America Fund launched in 2019..

    In recent months, SoftBank has led a series of large-scale investments aimed at putting off its role in the WeWork crisis. Last month, the company led a $ 200 million investment in digital fitness tracker Whoop and a $ 650 million round in an Indian ed-tech company. Elditus.. We also participated in raising $ 325 million in sports electronics retailers. Zealot..

    look: Uala CEO on the use of FinTech in Latin America

    Softbank announces second Latin American fund of at least $ 3 billion

    Source link Softbank announces second Latin American fund of at least $ 3 billion

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