Softbank Group launched $5 billion innovation fund to invest in technology companies in Latin America

Japan’s Softbank Group Corp said on Thursday it had launched a new $5 billion innovation fund to invest in technology companies in Latin America.

Softbank, which already has a $100 billion investment vehicle known as Softbank Vision Fund, has made sizeable investments in ride-hailing firm Uber Technologies Inc, shared office provider WeWork, food delivery startup DoorDash and dog walking app Wag, reports Reuters.

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“Latin America presents significant opportunities for SoftBank Group, and the Vision Fund will have the ability to co-invest alongside the SoftBank Innovation Fund,” executive officer of SoftBank Investment Advisers Rajeev Misra said.

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