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.

“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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