Soft­Bank hires Face­book’s Reddy as part­ner at $100 bn vision fund

Hindustan Times (Ranchi) - - Business - Bloomberg feed­[email protected]

BEN­GALURU: Soft­Bank hired Face­book Inc. ex­ec­u­tive Kirthiga Reddy as a part­ner at its $100 bil­lion Vision Fund, the first woman to join a group of just a dozen that over­sees the world’s big­gest pool of tech­nol­ogy in­vest­ments.

Reddy has joined Soft­Bank In­vest­ment Ad­vi­sors, which man­ages the gi­ant fund glob­ally, to fo­cus on fron­tier and en­ter­prise tech­nol­ogy glob­ally, ac­cord­ing to a Soft­Bank spokes­woman. She will work closely with se­nior man­ag­ing part­ner Deep Nishar, the spokes­woman added. Reddy had worked at Face­book in In­dia and the US for eight years and serves as chair of the Stan­ford Busi­ness School Man­age­ment Board, ac­cord­ing to her LinkedIn page.

Reddy is join­ing a crew that’s helped Soft­Bank Group Corp. founder Masayoshi Son or­ches­trate an un­prece­dented wave of in­vest­ment in Sil­i­con Val­ley, China and be­yond. The Vision Fund has com­mit­ted more than $65 bil­lion to ac­quire stakes in the likes of Uber Tech­nolo­gies Inc., WeWork Cos. and China’s Didi Chux­ing. For per­spec­tive, in 2016, the en­tire US ven­ture cap­i­tal in­dus­try in­vested $75.3 bil­lion, ac­cord­ing to the Na­tional Ven­ture Cap­i­tal As­so­ci­a­tion.

In an in­ter­view in Septem­ber, Son was asked about the fact that all the Vision Fund part­ners were men and he said he has “no prej­u­dice of any kind.” Vision Fund head Ra­jeev Misra had been lead­ing an ef­fort to hire more women, in­clud­ing at the man­ag­ing part­ner level.

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