Japan-based telecommunications and internet conglomerate SoftBank yesterday selected three executives to help run its $5bn SoftBank Innovation Fund, appointing André Maciel as managing partner.
Maciel previously oversaw financial services firm JPMorgan Chase’s investment banking advisory operations in Brazil. He will be based in Sao Paulo and be responsible for overseeing the fund’s Brazil office.
He will be joined by investment partners Paulo Passoni, formerly managing director of hedge fund Third Point, and Shu Nyatta, who has held various investment roles with SoftBank since 2015.
Passoni will be based in Miami, while Nyatta will split his time between US offices in Miami and Silicon Valley. The fund will also operate out of offices in San Carlos, California, and Tokyo, Japan.
SoftBank launched the vehicle last month with a $2bn anchor investment, naming Marcelo Claure as chief executive. Claure is also chief operating officer of SoftBank and chief executive of its US-based telecoms subsidiary, Sprint.
The fund will invest across Latin America, focusing on e-commerce, healthcare, mobility, insurance and digital financial services. SoftBank also set up a separate vehicle, SoftBank Latin America Local Hub, to help portfolio companies achieve growth.
Claure said: “André, Shu and Paulo are uniquely qualified to help lead the SoftBank Innovation Fund as we invest in transformative Latin American companies in one of the most important economic regions in the world.
“We are delighted to welcome this talented team with deep investment and operational experience in the region at such an exciting time, and believe there has never been a better time to support Latin America and the companies that will help shape its future.”
