March 8

Upload Ventures, a SoftBank Latin America Spinout, Seeks to Raise a $250 Million Fund

By Natasha Mascarenhas

Less than one year after Upload Ventures spun out of SoftBank’s investment arm, the Latin American–focused investment arm is seeking to raise a $250 million fund, filings show. TechCrunch reached out to Upload Ventures but did not hear back at time of publication.

Reports show that the Mexico- and Brazil-focused firm has already landed an anchor investor: TIM, a Brazilian telecommunications business. The entity has committed to investing $50 million in the growth-stage focused fund over the next two years. This comes after the firm invested through its starter capital of $75 million, per Valor Econômico, and announced its goal of raising $130 million by August 2022. Anchor aside, Upload Ventures still has a long way to go.

Source: TechCrunch (link opens in a new window)

Investing, Telecommunications
business development, telecommunications