BEIJING, Feb. 17 morning, according tomedia reports, SoftBank Group will continue to invest in Latin America this year, its main targets will include from e-commerce, health care and fintech and other industries start-ups.
In the first quarter of 2019, SoftBank set up a $5 billion Latin American fund, and the Japanese giant plans to invest $1 billion here in 2020, following a $1.6 billion investment last year. So far, the fund has invested in 17 companies and two Venture Capital institutions, all between $100 million and $150 million. SoftBank has set its sights on about 650 companies in the region.
SoftBank’s current investments in the region include Rappi, a Colombian distribution company, Gympass, a Brazilian fitness company, and Uala, an Argentine fintech company. SoftBank is also looking for companies in Latin America to use artificial intelligence in the food industry, especially those focused on vegetarians.
In addition to the investment, SoftBank will team up with Correlation One to launch an 11-week project to train artificial intelligence experts. SoftBank will also continue to invest directly in vCs, buying a $130 million stake in venture capital firm Kaszek Ventures in 2019 and investing $100 million in Valor Capital Group.
More than 50 per cent of all SoftBank’s latin American investments come from Brazil. (YongYong)