SoftBank Latin America Fund’s US$150 Million Investment in Grupo Bursátil Mexicano

Morrison & Foerster and Mijares, Angoitia, Cortés y Fuentes advised SoftBank Latin America Fund on the deal. Covington & Burling and Graham Abogados advised Corporativo GBM, S.A.B. de C.V.

SoftBank Latin America Fund announced its agreement to invest up to US$150 million into a subsidiary of Grupo Bursátil Mexicano (GBM), a leading investment platform in the Mexican stock market for over 35 years. The transaction values GBM’s operating holding at over US$1 billion.

GBM plans to use the proceeds to accelerate growth in all the business lines where it currently operates, as well as expanding into new verticals. It will also boost investments in order to enhance the democratization of investments in Mexico, and offer financial education so that Mexicans can regain control of their finances. GBM has a market share of over 16% in equity trading and more than MX$800 billion in assets under custody.

Launched in 2019, the SoftBank Latin America Fund is the largest technology fund focused exclusively on the fast-growing Latin American market. The US$5 billion Fund partners with a variety of companies and entrepreneurs to accelerate tech-focused innovation and to define the future of Latin America.

The MoFo team representing SoftBank Latin America Fund was led by Miami corporate partner and co-chair of MoFo’s Latin America Desk Randy Bullard (Picture), and Miami corporate associates Axel Miranda, Ludovica Gardani, and Fernando Guardazzi, and Los Angeles of counsel Hillel Cohn.

In Mexico, Mijares, Angoitia, Cortés y Fuentes advised Softbank with Carlos Ernesto Orcí Berea, Ricardo Maldonado Yáñez, Enrique Ramírez, Alejandro Díaz Morales, Dunia Lorena Aceituno Espinoza, Juan Pablo Betancourt Eichelmann, Eduardo Orellana Polo and Iván Serralde Lóyzaga.

Covington & Burling advised Corporativo GBM, S.A.B. de C.V. with Sergio Urías, Ingrid Rechtin, Ansgar Simon y Matthew Gehl, Gustavo Akkerman, Asociados Mengxi Zhu, Thomas Lopez and Natalia Velasco.

In Mexico Graham Abogados advised Corporativo GBM, S.A.B. de C.V. with Francisco Gándara Lois, Jonatan Graham Canedo, Maria Emília Miquel.

Involved fees earner: Gustavo Akkerman – Covington & Burling LLP; Matthew Gehl – Covington & Burling LLP; Ingrid Rechtin – Covington & Burling LLP; Ansgar Simon – Covington & Burling LLP; Sergio Urias – Covington & Burling LLP; Mengxi Zhu – Covington & Burling LLP; Francisco Gándara Lois – Graham Abogados ; Jonatan Graham Canedo – Graham Abogados ; Maria Emília Miquel – Graham Abogados ; Juan Pablo Betancourt Echielmann – Mijares, Angoitia, Cortés y Fuentes, S.C.; Alejandro Díaz Morales – Mijares, Angoitia, Cortés y Fuentes, S.C.; Ricardo Maldonado-Yáñez – Mijares, Angoitia, Cortés y Fuentes, S.C.; Carlos Orcí Berea – Mijares, Angoitia, Cortés y Fuentes, S.C.; Eduardo Orellana – Mijares, Angoitia, Cortés y Fuentes, S.C.; Enrique Ramírez – Mijares, Angoitia, Cortés y Fuentes, S.C.; Iván Serralde – Mijares, Angoitia, Cortés y Fuentes, S.C.; Randy Bullard – Morrison & Foerster; Hillel Cohn – Morrison & Foerster; Ludovica Gardani – Morrison & Foerster; Fernando Guardazzi – Morrison & Foerster; Axel Miranda – Morrison & Foerster;

Law Firms: Covington & Burling LLP; Graham Abogados ; Mijares, Angoitia, Cortés y Fuentes, S.C.; Morrison & Foerster;

Clients: Grupo Bursátil Mexicano, S.A. de C.V.; SoftBank Latin America Fund;

Author: Martina Bellini