SoftBank Group Corp. Announces Launch of New $5 Billion Technology Growth Fund for Latin America
Summary
Masayoshi Son, Chairman & Chief Executive Officer of SBG, said, “Latin America is on the cusp of becoming one of the most important economic regions in the world, and we anticipate significant growth in the decades ahead. The SoftBank Innovation Fund will become a major investor in transformative Latin American companies that are poised to redefine their industries and create new economic opportunities for millions of people.” Marcelo and team will offer invaluable expertise to help Latin American companies scale their operations, benefit from the greater SoftBank ecosystem and grow into global market leaders.” Digitalization of Financial Services: Banking activities are increasingly being handled online, but approximately 70% (400 million people) of Latin Americans remain unbanked or underbanked. SBG believes these factors contribute to the creation of an attractive market for emerging technology companies and entrepreneurs, and the need for patient capital to support them on their journeys.