WeWork and SoftBank announce new venture fund in Latin America

LatamListWeWork, the work space provider, and SoftBank Latin America Fund, the largest venture fund in the region, announced a new joint venture fund. The fund provides SoftBank Latin America with the exclusive right to operate the WeWork brand in Argentina, Brazil, Chile, Colombia, and Mexico.

WeWork provides flexible working spaces for companies and entrepreneurs across 90 buildings and 18 cities in Latin America. With the transition to more remote work, flexible working spaces are becoming increasingly favourable in the market. The company has seen a double digit increase in occupancy in the past four months.

SoftBank Latin America Fund is the largest technology fund in the region. The company’s knowledge of the startup ecosystem, expanding network, and operating expertise make it an optimal partner to grow the WeWork business in the region.

“Our joint venture with SoftBank Latin America Fund is the latest example of WeWork’s continued progress towards optimizing our international markets with local capital and operating expertise. As Latin America will continue to be an important market for WeWork, we have found the right partner in Softbank Latin America Fund to successfully move our business forward,” said Sandeep Mathrani, CEO of WeWork.

Read more on Business Wire.

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