SOFTBANK NEARS US$95B FOR TECH FUND
Fundraising may be closed as early as next week, say sources
LONDON have also said they would participate.
Abu Dhabi’s Mubadala Development Co is also considering committing as much as US$15 billion.
SoftBank plans to contribute at least US$25 billion of its own capital in the next five years, as well. The Japanese company announced plans for the Vision Fund last year, aiming to create a vehicle that would become one of the biggest technology investors over the next decade.
SoftBank has agreed to spend more than US$30 billion on technology companies in the last 12 months. Its largest deal was the acquisition of ARM Holdings Plc last year.
SoftBank Group Capital Ltd, an investment affiliate, contributed US$2 billion to last month’s record US$5.5 billion fundraising by Chinese ride-hailing giant Didi Chuxing.
In the previous month, it invested US$150 million in entities connected to investment bank Raine Group LLC, including its parent.
Other investments made by SoftBank include US$300 million in WeWork Cos, US$63.5 million in SB Energy Holdings Ltd and US$75 million for Zymergen. Bloomberg