SoftBank launches new $3 billion fund for startups in Latin America

The venture capital fund manager SoftBank announced this Tuesday () the launch of SoftBank Latin America Fund II. This is the second private investment fund dedicated and exclusively focused on technology companies in the region.

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  • The initiative comes after the success of SoftBank Latin America Fund, which invested US$ 3.5 billion (close to R$ 36, 4 billion at the current price) in 36 companies and had a net internal rate of return of 85%: these companies are currently valued at US$6.9 billion (about R$ 36, 1 billion). Among them are 14 from 18 Latin American unicorns (which exceeded the value of US$ 1 billion or R$ 5.2 billion), such as Quinto Andar, Rappi, MadeiraMadeira, Gympass, MercadoBitcoin and Inter.

    Softbank’s initial commitment to Fund II is US$ 3 billion (R$ 14,7 billion), but the fund is already looking for options to raise additional capital. The priority is for companies that use emerging technologies and artificial intelligence to define and reshape new sectors, such as e-commerce, digital financial services, healthcare, education, blockchain and corporate software, among others.

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    Image: Reproduction/Envato/DisobeyArtPhotography

    Masayoshi Son, president of the SoftBank Group, evaluates Latin America as one of the most economic regions important in the world. “There is a lot of innovation and disruption taking place in the region and business opportunities have never been greater,” he says. “Latin America is a crucial part of our strategy, so we are expanding our presence and doubling our commitment.”

    The company’s two funds in the region are led by Marcelo Claure, vice vice president – Executive President of SoftBank Group. “The return of SoftBank Latin America Fund far exceeded our expectations. Now is the time to double our commitment to the region. We will continue to support the growth of technology companies,” he adds. “We hope that 2022 will be the biggest year in terms of public share offerings (IPOs) of the history of Latin America.”

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