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Brazil's MadeiraMadeira raises $110M from SoftBank-led consortium

Brazilian online home goods platform MadeiraMadeira Electronic Commerce SA secured $110 million from a SoftBank Group Corp.-led consortium that includes Light Street Capital Management LLC and Flybridge Capital Partners, Reuters reported, citing a company statement.

The Japanese multinational conglomerate participated in the funding round through its $5 billion Latin America fund. Lazard Ltd. advised MadeiraMadeira in the round, according to Reuters.

Separately, SoftBank is looking to set up an office in New York City for its approximately $100 billion SoftBank Vision Fund LP, The Wall Street Journal reported, citing Lydia Jett, a partner at the investment vehicle.

Jett did not provide further details regarding the plan, and a spokesman for Vision Fund did not immediately respond to a request for comment, according to the Journal.