finance news

softbank along with Constellation Asset Management and Gavea Investimentos invest $140 million in Brazil e-commerce start-up

softbank along with Constellation Asset Management and Gavea Investimentos invest $140 million in Brazil e-commerce start-up
softbank along with Constellation Asset Management and Gavea Investimentos invest $140 million in Brazil e-commerce start-up
Softbank, a Japanese investment company founded by billionaire Masayoshi Son, earlier today has reported its investment of $138 million in VTEX, a Latin American e-commerce software provider.

According to the reports published, Softbank would be the lead investor along with Constellation Asset Management and Gavea Investimentos. 

VTEX provides supports for e-commerce related issues for clients like  Motorola, Electrolux, and Boticario, a cosmetic brand. 

Geraldo Thomaz, the founder, and CEO of the company, earlier today, stated that the company would use the investment for its research and development. He also added that the company is developing a new artificial intelligence software for its e-commerce clients.

The Japanese investment company has dedicated $5 billion from its vision fund to Latin American startups from Mexico to Brazil to Argentina. 

Earlier this week, Softbank received $12 billion from Alibaba stake sale in Hong Kong.

In 2014, Riverwood capital invested in VTEX and continues to be a shareholder in the company along with Softbank, Constellation Asset Management and Gavea Investimentos.