- SoftBank will be making some large investments in Latin American companies this year especially in the areas of e-commerce, healthcare, and financial technology
SoftBank is going to make some large investments in Latin American companies this year especially in the areas of e-commerce, healthcare, and financial technology, according to Bloomberg. Through a $5 billion Latin America Fund launched in the first quarter of 2019, SoftBank is planning to invest $1 billion in 2020 — which will add to last year’s $1.6 billion.
The company has invested $100 million to $150 million into each of 17 companies and two venture capital firms so far. And now SoftBank is looking at about 650 firms in the region.
“We are focused on investing in companies that could achieve long-term profitability,” said Andy Freire, Managing Partner at SoftBank Group International, during a roundtable with reporters via Bloomberg.
Some of the investments that SoftBank made in the area include Colombia-based delivery company Rappi, Brazil-based fitness company Gympass, and Argentina-based financial-tech company Uala.
Along with investing in companies, SoftBank will launch an 11-week program with the Correlation One foundation for training and hiring artificial intelligence talent. Plus SoftBank is going to continue investing directly in venture capital firms as it did by taking a $130 million stake in Kaszek Ventures and a $100 million investment in Valor Capital Group last year.
