SAO PAULO (Reuters) – Japan’s Softbank Group Corp (9984.T) named entrepreneur Ralf Wenzel as chief executive at its Latin American Tech Hub, with the goal of creating joint ventures among Softbank-backed companies in an effort to expand in the region.

Softbank said in a statement the group wanted to create 50 partnerships in five years, helping companies in the group’s Vision Fund expand in Latin America.

Ralf Wenzel is founder of foodpanda, a food delivery company, and Skrill, an e-wallet company in Europe.

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