SoftBank Vision Fund Leads USD100 Million Investment in Loggi
Posted On: 05 Jun 2019 | Source(s): Bloomberg, Exame | Author(s): Ezra Fieser, Mariana Fonseca
The SoftBank Vision Fund, a private investment fund managed by Japan-based technology conglomerate SoftBank, has led a USD100 million investment in Loggi, a Brazil-based logistics and delivery company. Other participants in the funding round include venture capital firms GGV Capital and Fifth Wall Ventures, investment management firm Velt Partners, and strategic investor Microsoft. This transaction reportedly values Loggi at USD1 billion. The company intends to use the funds to hire additional software developers and build new delivery hubs to increase Loggi’s geographical coverage. SoftBank Vision Fund had previously invested USD100 million in the company in October 2018.