SoftBank shifts LatAm plan with new early-stage spinout, Upload Ventures

SoftBank Latin America Fund announced today that it is spinning out its early-stage Latin American investment arm into a new autonomous entity, dubbed Upload Ventures. The new fund will back early-stage companies in the region at a pace of about $100 million per year. The Latin America Fund remains intact, according to the source, who said it will continue to deploy funds. Originally, it had raised $5 billion and once that was deployed, it planned to invest another $3 billion in LatAm startups.

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Vietnam’s Society Pass spins-off lifestyle e-commerce arm Leflair into Leflair Group

April 21, 2022

Society Pass Inc (SoPa), a Vietnam-based loyalty and ecommerce firm, announced the completion of restructuring Leflair’s Vietnam operations with the spin-off of Leflair Group. As a result of this corporate restructuring, the Leflair Group is set to become Southeast Asia’s next lifestyle retail super distributor nexus, evolving from a single discounted platform to a lifestyle retail ecosystem, providing shoppers with an integrated and unique shopping experience from online to offline.

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6 DeFi And Web3 Projects In Latam To Watch

April 21, 2022

Just as in the 90s there was too much conversation around the Web and doing things online, we are now living in an era where the hottest buzzword are Web3, DeFi and decentralization. Latin America has become a hotbed for new DeFi and Web3 companies. With abundant tech-skilled talent, a history of unreliable centralized institutions, and the disruptive startup culture that has boomed for at least a decade, the region is particularly positioned to be a disruptive lab for the next generation of Internet companies.

CDPI Emerging Markets