NewsBytes
    Hindi
    More
    In the news
    Mukesh Ambani
    WhatsApp
    Reliance Jio
    OPPO
    Vivo
    Sensex
    Bitcoin
    NewsBytes
    Hindi
    NewsBytes
    User Placeholder

    Hi,

    Logout


    India Business World Politics Sports Technology Entertainment Auto Lifestyle Inspirational Career Bengaluru Delhi Mumbai Visual Stories Find Cricket Statistics Phones Reviews Fitness Bands Reviews Speakers Reviews

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
     
    Home / News / Business News / SoftBank's $100b fund is seeking investors for the remaining $7b
    Business

    SoftBank's $100b fund is seeking investors for the remaining $7b

    SoftBank's $100b fund is seeking investors for the remaining $7b
    Written by Anish Chakraborty
    Jun 06, 2017, 04:00 am 3 min read
    SoftBank's $100b fund is seeking investors for the remaining $7b

    According to reports, Masayoshi Son-led SoftBank Group Corp is now in talks with the Canadian and Middle Eastern investors to raise the $7 billion, which is needed to complete the $100 billion SoftBank Vision Fund. The Japanese telecom giant has already managed to pool $93 billion for the largest tech fund in the history and has pretty strong backers. Here's all about it.

    $93 billion is already set for deployment

    The Vision Fund aims to focus its investments on future techs, which include Internet-of-Things, AI, robotics, infrastructure, telecoms, biotech, Fintech, mobile apps and the list goes on. It closed its first round of fund raising for the same with backers such as Apple, Qualcomm, UAE-based Mubadala Investment Company, Saudi Arabia's PID public fund, Foxconn, and Foxconn-owned Sharp, and $93 billion in its kitty.

    $7 billion more to complete the target

    Now, it is reportedly in talks with Canadian pension funds, sovereign wealth funds in Kuwait and Qatar and technology enterprises to garner the $7 billion it needs to reach the $100 billion mark. Moreover, reports say that the Vision Fund will be charging a 20% performance fee, a management fee that is between 0.5-1% and will hire around 50 people to manage this fund.

    What is the Vision Fund aimed at?

    The Vision Fund aims to push the envelope by making minority and majority deals with innovative firms, both private and public in nature. Son said, "Technology has the potential to address the biggest challenges and risks facing humanity today. The businesses working to solve these problems will require patient long-term capital and visionary strategic investment partners with the resources to nurture their success."

    SoftBank's Indian story is just getting started

    SoftBank has been busy in India too, although, it has hit a roadblock with Snapdeal and Housing, the former is in the process of being acquired by Flipkart and SoftBank is reportedly going to invest in the merged entity. Masayoshi Son had also said that he plans to spend Rs. 68,220 crore in India; focusing on solar power, renewable energy space and Internet.

    Betting on the winning horse

    Son had said earlier that, "India has the best opportunity ahead of us." SoftBank also recently picked up 20% of Paytm by shelling out $1.4 billion, which marks the largest single round funding received by an Indian digital commerce firm till date. Son has also committed to spending $50 billion in the United States and creating 50,000 new jobs.

    An Indian is going to run the Vision Fund

    The Tokyo-based telecom-to-technology investor has chosen India-born Rajeev Misra to helm the $100 billion fund. Misra will be the second major Indian-origin executive to join the ranks after the erstwhile second-in-command to founder Masayoshi Son, Nikesh Arora was shown the exit gate. Rajeev Misra had earlier played a key role in Son's acquisition of UK-based chip maker ARM Holdings and Vodafone Japan.

    Share this timeline
    Facebook
    Whatsapp
    Twitter
    Linkedin
    Latest
    India
    Saudi Arabia
    United States of America
    SoftBank Vision Fund

    Latest

    International Kite Festival 2023 begins Sunday: Details here Gujarat
    Amid 'Pathaan' row, FWICE seeks government help against 'Boycott Bollywood' Bollywood Films
    AUS vs SA: Hazlewood, Cummins take charge on Day 4 Australian Cricket Team
    FA Cup 2022-23, Manchester United overcome Everton 3-1: Key stats Manchester United

    India

    Will confirm appointment of 44 judges soon: Centre to SC Chief Justice of India
    Kerala to Texas! Judge Surendran Pattel's inspirational rags-to-riches journey Kerala
    Cold wave grips Delhi, temperature dips to 1.8 degrees Celsius Delhi
    Delhi accident: Police identify two more suspects including car owner  Anjali Singh

    Saudi Arabia

    Camel flu threat looms over FIFA World Cup; advisory issued Camil flu
    On immunity to Saudi Crown Prince, US cites PM Modi Narendra Modi
    Indians no longer need police clearance certificate for Saudi visa Job Fair
    Anti-kingdom tweets: Saudi Arabia jails US citizen for 16 years Mohammed Bin Salman

    United States of America

    US approves world's first vaccine for honey bees Vaccine
    'Unreasonable': China slams overseas COVID-19 entry restrictions on its travelers China
    China may claim ownership of resource-rich lunar swathes: NASA chief National Aeronautics and Space Administration
    One-third of global economy will be in recession: IMF chief International Monetary Fund

    SoftBank Vision Fund

    SoftBank's investment in India falls 84% to $500mn in 2022 SoftBank Group
    #FundingAlert: Unacademy raises $440 million, now valued at $3.4 billion Startups
    Paytm raises another $669.5 million from existing investors Paytm
    Paytm raises $1 billion, becomes most valued Indian start-up India

    Love Business News?

    Subscribe to stay updated.

    Business Thumbnail
    Indian Premier League (IPL) Celebrity News Hollywood News Bollywood News UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2023