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    9984   JP3436100006

SOFTBANK GROUP CORP.

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SoftBank : renews bet on Latin America with $3 billion fund

09/14/2021 | 05:34am EDT
FILE PHOTO: SoftBank Corp's logo is pictured at a news conference in Tokyo

SAO PAULO (Reuters) - 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 https://www.reuters.com/business/finance/japans-softbank-reports-39-fall-q1-net-profit-2021-08-10 after a regulatory crackdown on tech companies.

"There is so much innovation and disruption taking place in Latin America, and I believe the business opportunities there have never been stronger," SoftBank Group's chairman Masayoshi Son said in the statement. "Latin America is a critical part of our strategy."

SoftBank's first $5 billion Latin American fund was launched in 2019 by executive vice-president and Chief Operations Officer Marcelo Claure at a time when no deep-pocketed investor had signed big checks for startups in the region.

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.

Most of its portfolio companies remain private.

Still, companies such as Banco Inter SA, which SoftBank bought into when it was already listed, and e-commerce software platform VTEX, which went public in July, helped the fund post gains in the last quarter.

COO Claure, who will oversee the new fund, said returns from the initial fund have exceeded SoftBank's expectations.

(Reporting by Carolina Mandl; editing by Richard Pullin)

By Carolina Mandl


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BANCO INTER S.A. -3.83% 15.56 End-of-day quote.41.45%
SOFTBANK GROUP CORP. -0.83% 6238 End-of-day quote.-22.59%
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Analyst Recommendations on SOFTBANK GROUP CORP.
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Financials
Sales 2022 6 040 B 52 949 M 52 949 M
Net income 2022 1 310 B 11 482 M 11 482 M
Net Debt 2022 15 330 B 134 B 134 B
P/E ratio 2022 8,19x
Yield 2022 0,71%
Capitalization 10 686 B 93 536 M 93 677 M
EV / Sales 2022 4,31x
EV / Sales 2023 4,02x
Nbr of Employees 58 786
Free-Float 69,3%
Chart SOFTBANK GROUP CORP.
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SoftBank Group Corp. Technical Analysis Chart | 9984 | JP3436100006 | MarketScreener
Technical analysis trends SOFTBANK GROUP CORP.
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TrendsBearishBearishBearish
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 15
Last Close Price 6 238,00 JPY
Average target price 10 325,87 JPY
Spread / Average Target 65,5%
EPS Revisions
Managers and Directors
Masayoshi Son Chairman & Executive President
Yoshimitsu Goto CFO, Director & Senior Managing Executive Officer
Raul Marcelo Claure Chief Operating Officer & Executive Vice President
Tim Mackey Chief Legal Officer & Group Compliance Officer
Masami Iijima Independent Outside Director
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