SoftBank’s Vision Fund for tech raises $93 bn

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.

Published: 22nd May 2017 05:48 AM  |   Last Updated: 22nd May 2017 05:48 AM   |  A+A-

By Express News Service

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.

Stay up to date on all the latest Business news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.