Softbank will invest 1,000 million dollars in Latin America

The Japanese conglomerate SoftBank Group plans to invest this year about 1 billion dollars from its Latin American private equity fund due to the possible boost of technological growth in the region due to the Covid-19 pandemic.

“We are seeing a lot of opportunities at the moment, including companies of agricultural technology“, indicated the administrator of the fund, Paulo Passoni, in declarations collected by Bloomberg.

Passoni noted that around 70 % of the fund’s investments will continue to be in Brazil, but he also recognized opportunities in Mexico, Argentina and Colombia.

The fund, endowed with 5,000 million dollars, has already invested 2.300 million dollars in some Latin companies such as Banco Inter, Rappi and Gympass.

At the end of 2020, the value of these investments reached $ 3 billion after the global rise in the shares of the different companies.

On the other hand, Passoni indicated that the shares of Brazilian Bank Inter have already risen more than 60 % this year, which brings the fund’s participation in the financial institution to more than 1,000 million dollars.

K. Tovar

Source: Bloomberg