The corporate's Latin America fund will transition to an independent vehicle called Upload Ventures which will invest approximately $100m each year.

Japan-headquartered internet and telecommunications group SoftBank is spinning off its Latin America Fund into an independent vehicle called Upload Ventures, it announced today.

SoftBank initially launched the vehicle – also known as SoftBank Innovation Fund – under the auspices of group chief operating officer Marcelo Claure in 2019 with a $2bn capital allocation and a $5bn target for its close.

The unit added a $3bn second fund in September 2021, by which time it had built a portfolio…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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