SoftBank considers taking 40 companies to Brazil

Japan's SoftBank Group Corp is considering bringing about 40 companies with high growth potential to Brazil and expects to announce a major investment in the country in about two weeks, Brazil's group chief André Maciel said on Friday. .

“We have about 40 companies that fit into Brazil,” he said during an event at Cubo, a technology center funded by Itaú Unibanco, the largest private bank in Latin America.

SoftBank invests in many companies around the world, including some that are already operating in Brazil, such as US office sharing startup WeWork.

Maciel, former director of JPMorgan in Brazil, added that Softbank plans to disclose a major investment in the country within the next two weeks. He gave no further details.

The Japanese group has been leading multi-million dollar investments in Latin America since March, when it announced the creation of a $ 5 billion fund for technology projects in the region.

SoftBank has invested $ 1 billion in Colombian delivery startup Rappi, $ 150 million in application-based startup Loggi, and $ 250 million in Quinto Floor rental platform. It also acquired a stake of 15% in Banco Inter.

"Brazil still has room to create more unicorns," Maciel said, referring to startups worth more than $ 1 billion. He added that SoftBank sees opportunities in Brazil in health, logistics, transportation and agribusiness, among other areas.

Source: Reuters

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