Narayan AmmachchiJapanese investment group Softbank is reportedly interested in investing in Latin American retailers, in addition to the technology startups it is already ploughing money into.
Softbank is looking for large companies serving consumers with unique services powered by new technologies, according to a Reuters report citing one of the company’s senior executives
The Japanese conglomerate has cited Mexico-based retailers, including Femsa and Bimbo, as examples of consumer goods retailers it is hoping to partner with.
Bimbo is a bakery and processed food producer with a vast distribution network in Mexico and abroad, while Femsa is a retailer and distributor, with some 18,000 Oxxo convenience stores across the country.
Softbank launched an exclusive fund for Latin America earlier this year, putting its COO Marcelo Claure in charge of identifying prospective firms for investment.
In an interview with Reuters, Claure said his team was studying the operations of more than 140 companies and in the process of finalizing many deals.
Weeks after that interview, news emerged that SoftBank had agreed to invest US$1 billion in Colombian delivery app Rappi and about US$20 million in Mexican payments startup Clip.
In addition to e-commerce, Softbank is also looking to invest in n the region’s healthcare and mobility industries.
While some Latin American startups have unique service offerings, their growth has been stymied by a lack of funds.
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