Japan-headquartered internet and telecommunications group SoftBank disclosed yesterday it has allocated $3bn to a second Latin America-focused fund.
The corporate launched a $5bn first fund in early 2019 focused on the region, and the unit is headed by its chief operating officer, Marcelo Claure. The $3bn represents Fund II’s initial allocation, but SoftBank is exploring options to add to its size.
The first fund’s portfolio companies include on-demand delivery service Rappi, online real estate portal QuintoAndar, digital currency exchange Mercado Bitcoin, wellness programmer operator Gympass and online furniture retailer MadeiraMadeira.
Claure said: “Over the past two years, we have seen tremendous success and returns from the SoftBank Latin America Fund that far exceeded our expectations.
“The amazing work and vision that Latin America’s entrepreneurs have demonstrated in the region gives us confidence that its digital transformation will continue to accelerate – in fact, we expect that 2022 will be the biggest IPO year in Latin America’s history.
“Now is the time for us to double down on our commitment to the region. We will continue to support the growth of technology companies across nearly three dozen countries and are proud to be the most active technology investor in the region.”
