SoftBank mulls bringing 40 companies to Brazil

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© Reuters. FILE PHOTO: The logo of SoftBank Group Corp is displayed at the SoftBank World 2017 conference in Tokyo© Reuters. FILE PHOTO: The logo of SoftBank Group Corp is displayed at the SoftBank World 2017 conference in Tokyo

By Aluisio Alves

SAO PAULO (Reuters) – Japan’s SoftBank Group Corp is considering bringing around 40 companies with high growth potential to and expects to announce a large investment in the country in around two weeks’ time, the group’s head in , André Maciel, said on Friday.

“We have around 40 companies that fit in Brazil,” he said during an event at Cubo, a technological hub funded by Itaú Unibanco, the largest private bank in .

SoftBank has been investing in many companies around the world, including some that are already operating in Brazil such as U.S. office-sharing startup WeWork.

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Maciel, a former director at JPMorgan (NYSE:) in Brazil, added Softbank plans to disclose a large investment in the country in the next two weeks. He did not elaborate.

The Japanese group has been leading multimillion-dollar investments in Latin America since March, when announced the creation of a $5 billion fund targeting technological projects in the region.

SoftBank has invested $1 billion in Colombian delivery startup Rappi, $150 million in the app-based startup Loggi and $250 million in the rental platform Quinto Andar. It has also acquired a 15% stake in Banco Inter.

“Brazil still has room to create more unicorns”, said Maciel, referring to startups worth more than $1 billion. He added SoftBank sees opportunities in Brazil in health, logistics, transportation and agribusiness, among other areas.

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Source: Investing.com