SoftBank and others are racing to invest in Latin America, which is home to several fast-growing financial service companies.
SoftBank is committing $3 billion to kickstart a second fund focused on investing in technology companies in Latin America, the company announced Tuesday.
SoftBank has reemerged as a major tech investor, participating in big recent rounds for digital fitness tracker Whoop and sports e-retailer Fanatics.WeWork Executive Chairman Marcelo Claure during an interview with Andrew Ross Sorkin at WeWork headquarters in New York City on February 10, 2020.is committing $3 billion to kickstart a second fund focused on investing in start-ups in Latin America, the Japanese tech conglomerate announced Tuesday.
Venture investors poured $9.3 billion into Latin America in the first six months of 2021, compared to $5.3 billion all of last year, according to a. Brazil's Nubank was recently valued at $30 billion, putting it among the most valuable venture-backed companies in the world. The company is expected to go public soon.
SoftBank's Latin America Fund II will focus on investing in companies utilizing technologies like artificial intelligence and scout deals in e-commerce and digital financial services as well as blockchain projects. SoftBank has already committed $3 billion to the fund, which will operate out of Miami, São Paulo and Mexico City.
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