Apr 19, 2022

Softbank spins out Upload Ventures, its LatAm focused early-stage fund Softbank announced it will spin out a fund for early-stage startups in Latin America. This fund is called Upload Ventures, and unlike previous Latin American funds that Softbank created, it will focus on early-stage startups, rather than growth-stage startups. This decision was made because the firm received over a thousand proposals from early-stage startups in Latin America in less than a year. Their previous funds, Fund I and Fund II , financed some of Latin America’s unicorns such as Nubank, Merama and Rappi. While the average ticket will range from $1M to $10M, the fund will consist of $300M in total, with an initial investment of $100M annually. Fund I and Fund II committed, in comparison, $5B and $3B respectively. Some of the more early-stage startups that participated in the first two funds will be transferred to the new Upload Ventures. Some of these startups are Digibee, Neivor, Abstra, and BotCity.