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Report: SoftBank in talks with LatAm venture capital funds for investment

Japan's SoftBank Group Corp. is in discussions with Latin American venture capital firms to potentially invest hundreds of millions of dollars in their funds, Reuters reported, citing three sources with knowledge of the matter.

The funding will likely accelerate the spending of a $5 billion regional venture capital fund, according to the report. SoftBank executives plan to allocate about $500 million to between five and 10 funds, one Reuters source said.

Brazil's Valor Capital and Argentina's Kaszek Ventures have already obtained capital from SoftBank. The Argentine asset manager recently raised $600 million across two funds.

SoftBank is also in talks with other venture capital firms in South America, including Brazil-based Atlantico and Monashees, for potential investments.