SFTBY - SoftBank's Latin American fund investing $1B as pandemic drives tech gains

SoftBank's ([[SFTBF]],[[SFTBY]]) Latin American-focused Innovation Fund plans $1 billion in investments that could include agricultural tech firms.The $5 billion fund had already invested $2.3 billion in the region, backing the likes of Banco Inter SA and on-demand delivery app Rappi.Fund manager Paulo Passoni says the fund's holdings were valued at $3 billion as of December 31. Banco Inter's shares are up 60% YTD, pushing SoftBank's stake above $1 billion.“We are looking at many opportunities right now, including agricultural tech firms,” Passoni tells Bloomberg.Yesterday, SoftBank's original $100B Vision Fund reported an $8B quarterly profit, recovering from a previous loss by trimming assets. The portfolio was also helped by the pandemic-driven tech boom and successful IPOs for Doordash and Opendoor.

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SoftBank's Latin American fund investing $1B as pandemic drives tech gains