Softbank Doubles the Bet in Latin America

SoftBank Group International has just announced this Tuesday (14) that it will double the bet in LatinAmerica with additional $3Bi for tech companies in the region

SoftBank Group International doubles bet in Latin America. The investment fund giant has just announced this Tuesday (14) that it is doubling the bet on Latin America and it is committing $3 billion more to investing in tech companies.

Marcelo Claure, SoftBank Group International CEO in charge of the region, said that a decision has been made to launch Softbank Latin America Fund II as by the end of this quarter SoftBank Group International will have committed 100% of all capital of its Softbank Latin America Fund I.

SoftBank Latin America Fund has invested in 48 companies of which 15 have already reached unicorn status, said Laura Gaviria Halaby of SoftBank in a recent post. According to Softbank its first Latin America Fund has generated a net IRR of 85% with Softbank having invested $3.5 billion in 48 companies with a fair value of $6.9 billion as of June.

Softbank has invested in 15 unicorns out of that fund, including proptech startup Quinto Andar, Rappi, Mercado Bitcoin, Gympass, and Madeira Madeira. Recently it co-led a $300 million Series D round in Argentine personal finance management app Ualá.

The Fund has boosted its headcount to 60 people who operate out of Miami, São Paulo and Mexico City.

Fund II will back technology-enabled companies across countries and industries at every stage of their development, from seed to public, throughout Latin America.