SoftBank transfers charge of Latin America Funds to Rajeev Misra: Report
The Latin America Funds team of SoftBank, which was headed by former COO Marcelo Claure, will now report to Rajeev Misra.
Japanese technology conglomerate Group Corp has restructured its senior leadership after Chief Operating Officer Marcelo Claure handed in his resignation in January.
Rajeev Misra, CEO of SoftBank Investment Advisers, will now take charge of the company’s Latin America Funds, previously headed by Marcelo Claure. He also heads SoftBanks’ high profile Vision Fund, which includes $100 billion Fund I and $30 billion Fund II.
This will put SoftBank Latin America Fund and Latin America Fund II, totaling commitments of around $8 billion, under the purview of Rajeev Misra, said a report by Bloomberg. The team structure will continue to remain the same, said the report.
Earlier this year, President of SoftBank Group International (SBGI) Michel Combs took over from Marcelo Claure, including the operating and investment portfolio of SBGI, according to an announcement by SoftBank. SBGI includes Latin America Funds and SoftBank Opportunity Fund.
Marcelo Claure turned in his resignation after a disagreement with founder Masayoshi Son on compensation. The former COO had also pushed for spinoff of the Latina American investments, which was turned down by Son. The fund aims to invest $2 billion in the Latin Americas in 2022, said the report.
The Vision Fund continues to be the high profile investment vehicle for SoftBank. In an interview in November 2021, Rajeev Misra had said that the Vision Fund was looking to invest between $5 billion to $10 billion in Indian startups. The fund invested $3 billion in 2021 and elevated Sumer Juneja to the role of managing partner in November 2021.
Edited by Megha Reddy