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40 Companies To Be Brought To Brazil By SoftBank


09/23/2019


40 Companies To Be Brought To Brazil By SoftBank
About 40 companies, all of which have high potential for growth, from different parts of the world are being planned to be brought into Brazil by Japans investment company SoftBank. The Japanese firm is also expected to make an announcement of a large investment in Brazil in about a couple of week’s time, said André Maciel, the head of SoftBank in Brazil.
 
"We have around 40 companies that fit in Brazil," he said while speaking at an event at Cubo, which is a technological hub that has been financed by Itaú Unibanco which is the largest private bank in Latin America.
 
SoftBank is best known for investing in a host of technology startups that are in various stages of development all across the world and that includes some companies that are already operating in Brazil such as the United States based office-sharing startup WeWork.
 
Softbank plans to make a big announcement about a large investment in the country in the next two weeks, said Maciel who is a former director at JPMorgan in Brazil. No details were however given by him.
 
Since march, investments worth millions of dollars in companies in Latin America have been led by the Japanese conglomerate. This started off with the announcement of SoftBank of the creation of a
The Japanese group has been leading multimillion-dollar investments in Latin America since March, when it announced the creation of a US$5 billion fund specifically aimed at investing tech startups and companies in the continent.
 
US$1 billion have been invested in the Colombian delivery startup Rappi by SoftBank while the app-based startup Loggi has also received an investment of US$150 million. SoftBank has also made investment of US$250 million in the rental platform Quinto Andar. Further, a 15 per cent stake in Banco Inter has also been acquired by the Japanese conglomerate.
 
Maciel said that there is enough opportunities in Brazil to create more unicorn companies. Unicorns are those startups that are valued at more than US$1 billion. The industries and sectors in Brazil are being focused for investments by SoftBank because of their potential for growth include health, logistics, transportation and agribusiness, among other sectors.
 
(Source:www.channelnewsasia.com)


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