SoftBank pledges a further $3B for Latin American tech companies

SoftBank Group Corp announced the launch of a second SoftBank Latin America Fund for Latin American tech startups. The fund has an initial $3B commitment with the potential to increase in the future.

Fund II follows on from the initial $5B Latin America Fund launched in March 2019 which invested in companies such as Rappi, Ualá, and MadeiraMadeira. The fund generated a net IRR of 85% and helped produce 15 of Latam’s unicorns.

Read more about SoftBank’s Latin America investments here.

Fund II will back tech companies from all industries at every stage, from seed through to public, across the region.

“SoftBank will continue to drive technology adoption that will benefit hundreds of millions of people in this part of the world,” said Masayoshi Son, Chairman and CEO of the company. “There is so much innovation and disruption taking place in Latin America, and I believe the business opportunities there have never been stronger.”

The announcement comes just weeks after SoftBank announced a new $300M fund for early-stage startups in the region.

Read more on TechCrunch.

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