SoftBank lined up the launch of a Latin America-focused investment fund led by COO and former Sprint CEO Marcelo Claure (pictured), Bloomberg reported.
The news website said the venture will be completely separate to its multi-billion dollar SoftBank Vision Fund, which has made investments in a range of technology companies across the world.
Details on the types of companies it will target or the size of its warchest are sparse, however, Bloomberg’s sources estimated the fund could run into the billions of dollars range.
Claure is currently COO of SoftBank having been replaced as CEO of the company’s US mobile operator Sprint in May 2018 by Michel Combes. At the time move was explained as allowing Claure to focus on the deal to merge Sprint with T-Mobile US, which is still going through the regulatory process.
The fund would not be the first time SoftBank has targeted the region. It launched its SoftBank Latin America Ventures subsidiary in 2000 and has also invested in businesses on the continent through the Vision Fund.