“Fund II will explore options to raise additional capital,” SoftBank said in a statement. The new fund builds upon SoftBank’s $5 billion Latin America Fund, which was first announced in March 2019 and was formerly called the Innovation Fund with an initial $2 billion in committed capital. According to the firm, that fund has generated a net IRR of 85% — with SoftBank having invested $3.5 billion in 48 companies with a fair value of $6.9 billion as of June 30. SoftBank has invested in 15 unicorns out of that fund, including proptech startup QuintoAndar, Rappi, Mercado Bitcoin, Gympass and MadeiraMadeira. Recently, it co-led a $350 million Series D round in Argentine personal finance management app Ualá.

https://techcrunch.com/2021/09/14/softbank-commits-3b-more-to-investing-in-latin-american-tech-companies/?PostID=37641441&MessageRunDetailID=6403381987