Tuesday, 19 March 2019

SoftBank to take Latin America by storm with creation of $5bn Innovation Fund

By Chris Kelly, Total Telecom
Friday 08 March 19

With a bourgeoning middle class and growing demand for digital products and services, SoftBank Group has identified Latin America as a key area for investment

Japanese telecoms giant, SoftBank, has created a $5 billion investment fund, designed to streamline investment and development of Latin America's growing technology sector. In addition to the creation of the $5bn Innovation Fund…

Japanese telecoms giant, SoftBank, has created a $5 billion investment fund, designed to streamline investment and development of Latin America's growing technology sector.

In addition to the creation of the $5bn Innovation Fund, the company will also launch the SoftBank Latin America Local Hub, to oversee the administration of the fund. Marcelo Claure will serve as the chief executive officer of SoftBank Latin America and will simultaneously continue in his current role chief operating officer of Softbank Group.

“Growing up in Latin America I witnessed first-hand the creativity and passion of the people,” said Mr. Claure. “There is so much innovation and disruption taking place in the region, and I believe the business opportunities have never been stronger. 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.”

SoftBank has identified Latin America as a key region for growth. With more than 50 million people in the region entering the middle-class since the year 2000, SoftBank expects to see demand for digital products and services continue to rise.

The SoftBank Innovation Fund will invest in a range of industry verticals, including e-commerce, digital financial services, healthcare, mobility and insurance. The fund will invest across the region, with a particular focus on markets in Brazil, Argentina, Colombia, Chile and Mexico.

Also in the news:

Sparkle expands its reach in LATAM with new PoP in Colombia 

America Movil earnings up 

Angola Cables announces the launch of the SACS subsea cable system

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