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LatinNews Regional Monitor: Andean Group - 2 May 2019

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In brief: Colombia

* According to a statement circulated in the international media, Japan’s SoftBank, a global technology player, will invest US$1bn in Colombian delivery app Rappi, which has been described as the "largest investment ever in a Latin American technology firm". Founded in 2015, Rappi also operates in Mexico, Peru, Argentina, Chile, Uruguay, and Brazil. In March SoftBank announced the launch of the US$5bn SoftBank Innovation Fund, the largest-ever technology fund focused exclusively on the fast-growing Latin American market, and the creation of the SoftBank Latin America Local Hub, a new operating group that will partner with SoftBank portfolio companies helping them enter Latin America, navigate the local markets and broaden their geographic reach in the region.