SoftBank’s fund suffers key departures

Temporary blow: SoftBank’s headquarters in Tokyo. Three managing partners of the bank’s Latin America fund are set to leave, leaving the group in a challenging position. — AFP

SAN FRANCISCO: SoftBank Group Corp’s Shu Nyatta and Paulo Passoni, two of the three managing partners at the SoftBank Group Corp’s Latin America Fund, said they are leaving to start their own venture business focused on late-stage startups in the region.

This week, SoftBank is set to promote the LatAm fund’s third managing partner, Alex Szapiro, who currently holds an operating role, to a more senior position, a person familiar with the matter said.