SoftBank renews bet on Latin America with $3 bln fund

It has invested $3.5 billion in 48 companies from sectors ranging from education to finance and logistics, which are now valued at $6.9 billion.

SoftBank Group Corp on Tuesday launched a $3 billion fund to invest in technology companies in Latin America in a bid to build on the success of its initial fund for the region, which has spent most of its capital. In a statement, the Japanese conglomerate said it plans to invest in listed and private tech companies, adding the fund may raise additional capital in the future. SoftBank's renewed bet on Latin America comes as venture capital is booming in countries such as Brazil and Mexico, and follows a decision to pause new investments in China after a regulatory crackdown on tech companies.