SoftBank Latin America Fund has reached an agreement with Grupo Bursátil Mexicano, an investment platform in the Mexican stock market, under which the SoftBank unit will invest up to $150 million into a subsidiary of GBM. The transaction values GBM’s operating holding at over $1 billion.
“GBM’s mission is to transform Mexico into a country of investors. For over 35 years, we have been a leading player in the investment industry and today, thanks to our technology, we are now able to expand our services to everyone through our GBM+ platform. Additionally, GBM will keep investing in having the best product offering for our institutional and corporate clients. As well as building the best external advisor base in the country,” stated Pedro de Garay Montero, co-CEO of GBM. “SoftBank is investing in companies that are transforming the world, and GBM is no exception. We are delighted to partner with them as we accelerate our mission of helping Mexicans achieve financial freedom.”
“Over the past 35 years, GBM has built an unparalleled position with its world-class team and innovative technology,” said Marcelo Claure, CEO of SoftBank Group International and COO of SoftBank Group Corp. “As we look to make long-term investments in companies that will drive growth and innovation in the region, SoftBank is proud to partner with GBM, the leading investment platform transforming Mexico’s wealth management sector, in its mission to make investing accessible to all Mexicans.”
“We want to democratize investments in Mexico and provide all Mexicans with access to the financial markets. We are aware that this is a large-scale mission, but we are convinced that SoftBank will be a great ally to accomplish this task,” said GBM’s Co-CEO, José Antonio Salazar Guevara.
Morrison & Foerster advised SoftBank Latin America Fund.