SoftBank Vision Fund posts $600 million India-listed loss in Q1 2026
SoftBank's Vision Fund just posted a $600 million loss from its India-listed investments for January-March 2026.
The drop was mostly thanks to falling values at Swiggy, Ola Electric, Meesho, Delhivery, and FirstCry, making up over one-seventh of the fund's total $4.2 billion losses from listed holdings this quarter.
Lenskart gives SoftBank about $100 million gain
Amid all the losses, Lenskart stood out with roughly a $100 million gain for SoftBank in India.
Previous bets have been mixed: they lost over $500 million on Paytm but scored big with Policybazaar (close to $400 million gain) and Eternal ($100 million gain via Blinkit).
SoftBank cautious after $15B India investments
After investing over $15 billion in India, SoftBank is now playing it safe, focusing on selective deals like Emergent and being cautious with follow-on investments.
That shift comes as India's public markets face challenges like tough competition and disappointing post-listing performance.