SoftBank Group Corp. is boosting its bet on Latin America’s burgeoning tech industry, adding $3 billion for investments in a region quickly gaining popularity with foreign venture capitalists.

The Japanese firm is launching a second private investment fund, bringing its total earmarked for the region to $8 billion, according to a company statement. The fund, which may raise additional capital, plans to invest in technology-related companies from early stage startups to those that have already gone public, SoftBank said.

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