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SoftBank Taps Third Point, JPMorgan Executives for $5 Billion Tech Fund

  • Masayoshi Son’s company is hiring three financial veterans
  • Pool focuses on Latin America amid venture investing boom
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Marcelo Claure, SoftBank Group chief operating officer, discusses the launch of a $5 billion technology fund.Source: Bloomberg)
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SoftBank Group Corp. tapped industry veterans from Dan Loeb’s Third Point and JPMorgan Chase & Co. to help oversee a $5 billion technology fund focused on Latin America.

Paulo Passoni, who until earlier this year was a managing director at Daniel Loeb’s hedge fund Third Point, will serve as investment partner with SoftBank’s own Shu Nyatta for the SoftBank Innovation Fund. The two will be focused on finding and executing deals, the company said in a statement on Tuesday. André Maciel, who ran JPMorgan’s investment-banking advisory business for Brazil, is joining as a managing partner who will helm the fund’s Brazil office, the company said.