SoftBank, whose $5 billion Latin America fund has showered regional startups wit...
SAO PAULO - SoftBank, whose $5 billion Latin America fund has showered regional startups with cash, is also courting local venture capital funds, an unusual move for the Japanese investor that has jolted the region’s tech scene.
Venture capital is still a relatively young business in Latin America and SoftBank’s investments will help to foster innovation, particularly for late-stage tech businesses, which are SoftBank’s main target. This could give SoftBank an advantage as a potential leading investor in future fundraising rounds and could also give the conglomerate an advantage over other investors in the same fund, some of the sources said.
SoftBank also requires venture capital firms it invests in to accept a non-compete clause and to give priority to the Japanese conglomerate when it is interested in early stage startup investments, one of the sources said.Softbank declined to comment. In the first half of 2019, venture capital investments in the region totaled $2.6 billion, more than three times the $780 million from a year earlier, according to The Association for Private Capital Investment in Latin America. More than a third of that came from SoftBank’s $1 billion bet on a single company, Colombian delivery-app Rappi.
But one of the sources said it was considered best practice both for venture capital funds or other investors leading the funding rounds to allow a different party to weigh in on the valuation for successive funding efforts.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
China’s Venture Capital Boom Is Over, Leaving Investors High and DryChina’s venture-capital boom, which spawned some of the world’s most valuable technology companies and dozens of rags-to-riches entrepreneur tales in recent years, has come to an end.
Leer más »
Darren Star’s New Series Has More City Than Sex — And It’s ParisWWD went behind the scenes with the television guru and his star Lily Collins as the new series wraps shooting in the French capital.
Leer más »
The Number Of Venture Capital-Backed Companies With Female Founders Is On The RiseAlthough the venture capital gender gap is closing, there is still a long way to go. In 2018, just 20.3% of all deals and 17.9% of funding went to companies with at least one female founder.
Leer más »
The Number Of Venture Capital-Backed Companies With Female Founders Is On The RiseAlthough the venture capital gender gap is closing, there is still a long way to go. In 2018, just 20.3% of all deals and 17.9% of funding went to companies with at least one female founder.
Leer más »
Alexa von Tobel And Penny Pritzker Raised $200 Million For Their Venture Firm Inspired CapitalIt is one of the biggest debut funds out of New York and an especially significant raise for a female-founded firm.
Leer más »
SoftBank's Yahoo Japan confirms merger talks with Line, shares jumpSoftBank's Yahoo Japan, one of Japan's top internet firms, confirmed i...
Leer más »