Softbank to pour in US$1 billion into Latin American Tech Companies Countries of focus are: Brazil, Mexico, Argentina and Colombia

Softbank Latin America

Softbank to pour in US$1 billion into Latin American Tech Companies

Details:

  • Softbank is a Japanese conglomerate with a fund of US$ 5 billion
  • The company has already invested $ 2.3 billion in companies like Rappi , Banco Inter and Gympass .
  • 70% of its investments will be in Brazil, while the other 30% will be dedicated to opportunities for Mexico, Argentina and Colombia.
  • Looking at startups that apply artificial intelligence to food-related businesses, especially those focused on plant-based food.

With a war chest of US$ 5 billion, Softbank has been active in the Latin American region – investing in companies such as Rappi, Banco Inter, Gympass, Kavak and more. The firm’s expansion in Latin America is also looking at startups that apply artificial intelligence to food-related businesses, especially those focused on plant-based food.

The firm will also continue to invest directly in venture capital firms, after taking a $130 million stake in Kaszek Ventures and making a $100 million investment in Valor Capital Group in 2019.

In addition to the fund, Softbank has also introduced a program that will recruit and train top artificial intelligence (AI) and data science talent in Latin America aptly named – Data Science for All (DS4A).

The Japanese conglomerate will be focusing its funds mainly in Brazil, the largest market in Latin America with 70% of its investments, while the other 30% will be dedicated to opportunities in Mexico, Argentina and Colombia.

 

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