SoftBank launched the Latin America fund last month to invest across the region and it will focus on e-commerce, digital financial services as well as health care, mobility and insurance.
Wednesday 10, April 2019
(Bloomberg) --SoftBank Group is hiring a trio of industry veterans to oversee a $5 billion technology fund headed by Chief Operating Officer Marcelo Claure that focuses on Latin America.
André Maciel, a former Managing Director at JPMorgan Chase in Brazil, will join the SoftBank Innovation Fund as managing partner, Paulo Passoni, ex-Managing Director with Daniel Loeb’s hedge fund Third Point and SoftBank’s own Shu Nyatta will serve as investment partners focused on finding and executing deals.
Masayoshi Son’s technology conglomerate already holds stakes in many of the world’s most valuable start-ups, from Uber and WeWork to Didi Chuxing through its $100 billion Vision Fund.
Maciel will helm the fund’s Brazil office from his base in Sao Paulo, oversee investments in the region’s other early stage funds, and be responsible for structuring transactions. He spent 17 years at JPMorgan, working on mergers and acquisitions and equity capital markets with a focus on technology, and most recently led its investment banking advisory business for Brazil.
Additionally, Passoni has been with Third Point for more than seven years and ran the $14 billion fund’s emerging market investments before leaving earlier this year to start a venture capital firm. Before that, the Brazilian native spent five years at the now-shuttered Eton Park Capital Management. Passoni will be based in Miami.
Before joining SoftBank in 2015, Nyatta worked at JPMorgan and McKinsey & Co, he will split his time between Miami and Silicon Valley.
In 2000, SoftBank created SoftBank Latin America Ventures to support the group’s companies in the region and invest in start-ups and in 2017 the parent ploughed $100 million into Brazilian ride-hailing app 99.
Similarly, last year its Vision Fund invested $100 million in delivery start-up Loggi, betting on rapid e-commerce growth.