According to Bloomberg, SoftBank Group plans to invest an additional $5 billion in Latin American companies, doubling its total capital to $10 billion, according to people familiar with the matter.

According to people familiar with the matter, SoftBank's board of directors is about to approve the new capital allocation. This will double the company's investment in the Latin American region to $10 billion. SoftBank will also expand its investments in the area, from seed and Series A startups to taking stakes in public companies.

The additional funding may create SoftBank Latin America Fund 2 or expand the existing fund, which launches in 2019. SoftBank's chief operating officer, Marcelo Claure, will continue to lead the effort.

A SoftBank spokeswoman said that while various discussions are underway, no decision has been made.