SoftBank launches $5B Latin America fund led by former Sprint CEO

Fund will focus on e-commerce, health care, digital financial services

Miami /
Mar.March 10, 2019 09:00 AM

SoftBank’s Masayoshi Son (Credit: Getty, Pixabay)

SoftBank is launching a $5 billion fund to invest in technology startups across Latin America.

Marcelo Claure, the former CEO of Sprint and a partner in the David Beckham-led venture to build a Major League Soccer complex in Miami, will run the fund. The new fund will focus on investments in e-commerce, health care, digital financial services and others industries throughout Latin America, according to CNBC.

Investors in SoftBank’s $100 billion Vision Fund have grown disgruntled as of late. The sovereign wealth funds of Saudi Arabia and Abu Dhabi have complained about SoftBank’s practice of buying stakes in companies and then passing them onto the Vision Fund at a premium.

SoftBank has invested billions into startups like Uber and Compass over the past few years. Investors are concerned that its CEO Masayoshi Son is buying shares of companies at valuations that are at market-peak pricing, citing SoftBank’s most recent $2 billion investment into The We Company, previously known as WeWork. [CNBC] – Katherine Kallergis


Related Articles

arrow_forward_ios
Blink’s Michael Farkas and Lionstone’s Diego Lowenstein with 605 Lincoln Road (Google Maps)
Blink buys office condo on Miami Beach’s Lincoln Road for new HQ
Blink buys office condo on Miami Beach’s Lincoln Road for new HQ
Miami Mayor Francis Suarez and SoftBank Group COO Marcelo Claure. (Getty)
South Florida by the numbers: Big Tech and Wall Street head to South Florida
South Florida by the numbers: Big Tech and Wall Street head to South Florida
SoftBank Group COO Marcelo Claure and Mayor Francis Suarez (Getty; iStock)
SoftBank to invest $100M in Miami startups
SoftBank to invest $100M in Miami startups
Photo courtesy of David Iglesias
Boca Beach House condo project scores $43M construction loan
Boca Beach House condo project scores $43M construction loan
Nick Rojo and Jeff Burns (Affiliated, iStock)
Affiliated Development launches $125M workforce housing fund
Affiliated Development launches $125M workforce housing fund
Tom Cabrerizo and 6790-6880 Southwest 80th Street (Google Maps)
Developers score $15M construction loan for Miami townhouse development
Developers score $15M construction loan for Miami townhouse development
Triton Center (iStock)
Questions surround $50M in EB-5 investments tied to former INS building: lawsuit
Questions surround $50M in EB-5 investments tied to former INS building: lawsuit
Michael S. Liebowitz and Russell Galbut (Linkedin)
Russell Galbut and partner launch blank check company, plan to raise $100M
Russell Galbut and partner launch blank check company, plan to raise $100M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...