SoftBank seeks new investments in Brazil; eyes healthtech and agritech, Managing Partner says

16 October 2019

SoftBank, the Japanese conglomerate, is looking for new investment opportunities in Brazil, including in sectors where it has not yet invested, said Managing Partner in Brazil Andre Maciel.

Brazil’s healthtech and agritech are two sectors SoftBank has been monitoring, Maciel said on the sidelines of the Corporate Venture in Brasil conference held this week in Sao Paulo.

The executive declined to comment on a soon-to-be-announced investment in a local business-to-business (B2B) company, which Maciel himself announced at the Forum de Investimentos Brasil 2019 held last week in Sao Paulo.

SoftBank has invested in about 10 Latin American companies since March, when it launched a USD 5bn fund to invest in technology startups across the region – the largest-ever fund of its kind. Most of its investments have been in fintech, mobility, fitness and online marketplace.

Some of its Latin American portfolio companies include Brazilian online platform for gym memberships Gympass and digital bank Banco Inter, Mexican online used-car marketplace Kavak and Colombia´s on-demand online delivery startup Rappi.

Banco Inter is the only listed Latin American company that SoftBank has invested in, Maciel said during his presentation at the Corporate Venture in Brasil conference, noting that the Japanese conglomerate prefers to invest in private targets in the region.

SoftBank’s M&A strategy for Latin America is carried out from its 15-people office in Sao Paulo, as well as from Miami, Silicon Valley and Tokyo, Maciel noted in his presentation.

Prior to joining SoftBank in April, Maciel served as Managing Director at J.P. Morgan, where he worked for 17 years in leadership positions in M&A and equity capital markets, with a focus on technology, according to press release issued by SoftBank.
 

 

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