BENGALURU: Japanese telecom conglomerate Softbank Group has raised over $93 billion capital for its
Vision Fund to invest towards long-term investment in companies in the technology sector.
According to a statement issued by SoftBank, the fund is targeting a total of $100 billion of committed capital, with a final close within six months. The fund will also focus on foundational platform businesses keen on next age of innovation, and not just on long-term investments in companies.
This fund will help spearhead innovation in the new digital technologies including Internet of Things, cloud technologies, artificial intelligence, robotics, mobile applications, computing, data-driven business models and financial technology among others. Also a point of focus for the fund will be acquiring minority and majority interests in both private and public firms. It will address fund requirements of businesses ranging from emerging technologies to well-established, multi-billion dollar companies.
The Vision Fund will have the right to acquire investments made or in the process of being made, by the SoftBank Group (including 24.99 per cent of its holding in electronic chipset technology firm ARM and investments in Guardant Health, Intelsat, Nvidia, OneWeb and SoFi)
Softbank’s wholly-owned subsidiary SB Investment Advisers, which is to be headed by Rajev Misra, will advise the company on these investments. Rajeev Misra will be the CEO of SB Investment Advisers and a member of the Investment Committee.
“He will play a key role in all fund transactions, supported by a highly-experienced global team across offices in London, San Carlos, and Tokyo,” said Softbank.
Apart from SoftBank Group Corp and Public Investment Fund of the Kingdom of Saudi Arabia, investors in the Vision Fund include Mubadala Investment Company based in the United Arab Emirates, Apple Inc, Foxconn Technology Group, Qualcomm Incorporated and Sharp Corporation.