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SoftBank targets Latin America with additional $1 billion fund

SoftBank Latin America
SoftBank will target ecommerce, healthcare, fintech, mobility and insurance startups in the region

SoftBank plans to add $1 billion this year to its $5 billion Latin America Fund. SoftBank is seeing huge potential in the Latin American market. 

Its Latin America Fund was established in 2019. SoftBank will target ecommerce, healthcare, fintech, mobility and insurance in Latin America, media reports said. Currently, it is aiming at 650 firms in the region. 

To date, SoftBank has earmarked $100 million to $150 million to invest in 17 companies and two venture capital firms, media reports said. 

It seems that SoftBank will also create SoftBank Latin America Local Hub, in addition to the new fund. The SoftBank Latin America Local Hub will partner will help the bank’s portfolio companies to foray into Latin America and explore the new domestic markets. 

SoftBank will co-invest along with SoftBank Innovation Fund — and invest in companies in Argentina, Brazil, Chile, Colombia and Mexico. It seems that more than 50 percent of Latin American startups funded by the regional fund are in Brazil. 

CEO of SoftBank Latin America Marcelo Claure, said in a statement, “Growing up in Latin America I witnessed firsthand the creativity and passion of the people. There is so much innovation and disruption taking place in the region, and I believe the business opportunities have never been stronger.”

Latin America is ripe for investment with the new technology boom.  It is anticipated to become one of the most economically powerful regions in the world. SoftBank has been investing in the region for several years now. Recently, it funded Sao Paulo-based ride-hailing startup 99. 

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