Softbank to pour in US$1 billion into Latin American Tech Companies
- Softbank is a Japanese conglomerate with a fund of US$ 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.