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SoftBank group to invest $500 mln in venture capital funds in Latin America

SAO PAULO, Oct 11 (Reuters) - Japan's SoftBank Group Corp is planning to invest $500 million in venture capital funds in Latin America, its managing partner in Brazil, Andre Maciel, said on Friday.

Reuters reported earlier that SoftBank was in talks with venture capital firms in Latin America related to investments, in a move likely to speed up spending of a $5 billion regional venture capital fund launched in March. (Reporting by Carolina Mandl; Editing by Sandra Maler)