Masayoshi Son’s firm will put US$2 billion into the new SoftBank Innovation Fund, but did not identify any outside investors. The new pool will be run by Marcelo Claure, previously SoftBank’s chief operating officer. It’s setting up offices in Argentina, Brazil, Colombia and Mexico. (Wall Street Journal)
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Masayoshi Son’s firm will put US$2 billion into the new SoftBank Innovation Fund, but did not identify any outside investors. The new pool will be run by Marcelo Claure, previously SoftBank’s chief operating officer. It’s setting up offices in Argentina, Brazil, Colombia and Mexico. (Wall Street Journal)
Talking point: The new fund is a huge boosts to venture capital in Latin America—it’s as big as the total amount raised by companies in the region in 2017 and 2018. But, it leaves Canada as the only major North American economy in which SoftBank has yet to allocate money to or spend money on tech startups. Last year, a Canadian venture capitalist told me the fund was making trips to Canada to look at investments, but no deals have yet been announced.
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