SoftBank group to invest $500 million in venture capital funds in Latin America

Global Corner

FILE PHOTO: SoftBank Corp. placard is prepared during a ceremony to mark the company’s debut on the Tokyo Stock Exchange in Tokyo, Japan December 19, 2018. REUTERS/Issei Kato/File Photo

SAO PAULO (Reuters) – Japan’s SoftBank Group Corp is planning to invest $500 million in venture capital funds in Latin America, its managing partner in Brazil, Andre Maciel, said on Friday.

Reuters reported earlier that SoftBank was in talks with venture capital firms in Latin America related to investments, in a move likely to speed up spending of a $5 billion regional venture capital fund launched in March.

Reporting by Carolina Mandl; Editing by Sandra Maler

Our Standards:The Thomson Reuters Trust Principles.

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