Japan's SoftBank Group Corp announced the creation of a $5 billion innovation fund focused on technology firms in Latin America, as part of its broader global investment strategy initiated in 2017. The initiative complements the company's existing $100 billion Vision Fund, which has previously supported ventures like Uber Technologies Inc, WeWork, DoorDash, and Wag.
SoftBank Investment Advisers executive officer Rajeev Misra emphasized the region's potential, stating, "Latin America presents significant opportunities for SoftBank Group, and the Vision Fund will have the ability to co-invest alongside the SoftBank Innovation Fund."
The fund represents SoftBank's continued efforts to diversify its tech investment portfolio through collaborative and standalone funding mechanisms tailored to emerging markets.
Reporting by Vibhuti Sharma in Bengaluru; Editing by Shounak Dasgupta
