“It’s a blue ocean,” SoftBank’s Marcelo Claure said about Latin America, where the conglomerate’s new fund will look to invest at least $5 billion in tech startups over the next five years
TOKYO—SoftBank Group Corp. is launching a $5 billion fund to invest in tech startups in Latin America, dwarfing rivals in a region seeing a surge in venture-capital inflows.
The Tokyo-based conglomerate has committed $2 billion to the new SoftBank Innovation Fund to focus on mid-to-late-stage ventures in the region, SoftBank said Thursday, without naming the expected outside investors. The fund will work with the Saudi-backed $99 billion SoftBank Vision Fund to make bigger investments, the company said.
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