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Japan’s SoftBank to bring 40 high growth firms to Brazil

SoftBank Brazil

The bank will also make another announcement regarding another potential investment in the country

SoftBank is considering bringing in around 40 high growth firms to Brazil, according to reports. Not only that, but the investment company is also expected to announce yet another potential investment in Brazil in two weeks’ time.

SoftBank’s group’s head in Brazil, André Maciel told the media that, “Brazil still has room to create more unicorns.”

According to him, Brazil has potential in the areas of health, logistics, transportation, and agriculture business which SoftBank would like to tap in.

WeWork, a company in which SoftBank has heavily invested in, is already operating in Brazil.

Earlier this year, SoftBank also led a funding round for Brazilian lending startup Creditas. The startup, which is valued at around $750 million, is set to take on Brazil’s five banks which control around 82 percent of all assets in the market.

It has also invested around $150 million in Brazil-based delivery startup Loggi and $250 million in the rental platform Quinto Andar. It has also acquired a 15 percent stake in Banco Inter.

Besides its investment in Brazil, SoftBank has also invested $1 billion in Colombian delivery startup Rappi.

Earlier this year, SoftBank also announced the creation of a $5 billion fund which will target technological projects in the Latin American region.

Recently, Monex Group sold around $4.6 million of SoftBank’s bonds to Japanese individuals in a sale which lasted less than three minutes.

Last week, SoftBank also opened its office in New York for its Vision Fund. The new office in New York will become the bank’s fifth base. It will also help the bank tap into the city’s startup scene.

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