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SoftBank in talks to invest in Latam venture capital funds

September 10, 2019 / Carolina Mandl

Japan’s SoftBank Group Corp (9984.T) is in talks with venture capital firms in Latin America to invest hundreds of millions of dollars in their funds, a move likely to speed up spending of a $5 billion regional venture capital fund, three sources with knowledge of the matter said. So far, SoftBank has only announced direct investments using the fund’s resources, injecting capital into Colombian delivery app Rappi, Brazilian lender Creditas, gym membership app Gympass and Mexican payments firm Clip, for instance. However, SoftBank’s Latin America fund also plans to invest in venture capital funds as a way to further foster innovation in the region, the sources said on condition of anonymity. The strategy will position SoftBank closer to startups that may eventually grow big enough to receive the group’s direct investments.