Softbank launches $5B fund for Latin America’s technology landscape
Category: #headline  By Mateen Dalal  Date: 2019-03-08
  • share
  • Twitter
  • Facebook
  • LinkedIn

Softbank launches $5B fund for Latin America’s technology landscape
  • The fund will be used to pour in capital for the development of technology startups in Latin America.
     
  • The fund’s location for headquarters remains undecided so far.

Japanese holding conglomerate Softbank has apparently made it to the headlines for having launched a fund worth USD 5 billion. Credible reports assert that the fund is targeted toward investments in technology start-ups spanning the economies of Latin America.

Tentatively titled the SoftBank Innovation Fund, the fund will be operated by Marcelo Claure, the former chief executive officer of Sprint. As per sources familiar with the knowledge of the matter, SoftBank has committed close to USD 2 billion to the fund already. However, no decision regarding the fund’s headquarters has been taken so far.

Authentic reports claim that the size of the fund is unprecedented in Latin America, given that it equals the total of combined venture capital investments made in the years 2017 and 2018.

Speaking on the fund, Masayoshi Son, CEO & Chairman, SoftBank, has been reported to state that Latin America is on the verge of cropping up as one of the most significant economic grounds globally, and the company anticipate a massive growth graph in the decades to come.

A report by the Firstpost states that Marcelo Claure claimed Latin America to presently be a hotspot for extensive innovation, with major industries being disrupted with the latest trends. Softbank’s fund will emerge to be a major investor in companies across the region that aim to transform their vision and generate numerous economic opportunities for millions of people, Claure asserted further.

According to sources familiar with the knowledge of the matter, the SoftBank Innovation Fund will be concentrating on investments in industries such as healthcare, e-commerce, and digital finance. Also, the fund plans to invest all through Latin America, spanning major countries such as Chile, Mexico, Argentina, and Brazil.

About Author

Mateen Dalal    

Mateen Dalal

Despite working as a professional testing engineer, Mateen Dalal always held a liking for content creation. Following his passion, he now pens down articles for itresearchbrief.com and a couple of similar portals. Mateen is a qualified electronics and telecommunicat...

Read More>>

More News By Mateen Dalal

Nexstar gets FCC nod on $6.4 billion acquisition of Tribune Media
Nexstar gets FCC nod on $6.4 billion acquisition of Tribune Media
By Mateen Dalal

Whether watching your favorite TV series or seeking the latest news updates, local television statio...

New York governor bans all flavored e-cigarettes in a vaping crackdown
New York governor bans all flavored e-cigarettes in a vaping crackdown
By Mateen Dalal

Gov. Cuomo announced the ban on flavored e-cigarettes to address the growing cases of vaping relat...

Toyota plans to use same batteries as Tesla for China plug-in hybrids
Toyota plans to use same batteries as Tesla for China plug-in hybrids
By Mateen Dalal

·    The automaker is using batteries designed by Panasonic for Levin and Coro...