A $5 billion SoftBank Fund is 10% crypto, according to a Latin American director | TechCrunch

According to SoftBank's Paulo Passoni, the most appealing investment opportunity in Latin America is crypto.

According to the managing director of SoftBank's Latin America Fund, around 10% of one of the firm's $5 billion funds is invested in crypto-related assets, a strategy he supports even though some coins are overpriced.

"Of course there's some froth, and not all tokens are worth what the market says," he remarked at a webinar held by Eurasia Group on Wednesday. "I do feel it's the most significant thing going on throughout the world right now," he says.

The remarks underline SoftBank's recent emphasis on cryptocurrencies, as the Japanese technology firm increases its commitment to Latin America. It said in September that it has invested in 15 of Latin America's 25 unicorns, or firms valued at $1 billion or more, including Colombian delivery app Rappi and 

Brazilian training provider Gympass. It also backs 2TM Participacoes SA, the owner of Brazil's largest cryptocurrency brokerage, which secured $50 million in investment last month.

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