Morrison & Foerster represented SoftBank Group Corp. in connection with the recently announced 450 million reais (c. US$84.5 million) financing round in Descomplica, the first Brazilian EdTech company to enter the higher education market. Co-led by investment fund Invus Opportunities, the funding round represents the biggest investment to date in an EdTech company in Latin America.
Founded in 2011, Descomplica's mission is to democratize access to education at all stages of life. Operating through an online-only model, the company offers preparatory courses and high school reinforcement, as well as undergraduate and graduate degrees. Descomplica counts five million users per month across all of its platforms.
MoFo's Latin America corporate team previously represented SoftBank in its earlier investments in Brazil, including in IDTech pioneer Acesso Digital, real estate leasing company QuintoAndar, bus charter online booking service Buser, and data science company Cortex.
The MoFo deal team advising SoftBank was led by Miami-based Latin America Desk co-chair Randy Bullard and corporate partner Juan Delgado, together with corporate associate Julia Danforth.
Read more about the transaction in Descomplica's press release.