Japanese multinational conglomerate SoftBank Group Corp is planning a third Vision Fund, probably using its capital. In the upcoming months, it will decide on the matter.
However, it was reported that the size of the new fund could not be determined. Also, it is estimated that SoftBank may rather put additional money into Vision Fund 2. The report also said that a new fund would be a way to reset employee compensation.
Last month, Masayoshi Son, SoftBank’s Chief Executive stated that he would restructure the Vision Fund investment arm after it reported a USD 50 billion loss in the six months through June. Reportedly, the value of its portfolio slid.
SoftBank has radically reduced investment activity and sold key assets, including shares in e-commerce giant Alibaba, with executives targeting chip designer Arm’s initial public offering (IPO) to raise further cash.
Founded by Masayoshi Son in 1981, the conglomerate primarily invests in companies operating in the energy, technology, and financial sectors. Headquartered in Tokyo, the group runs the Vision Fund, the world’s largesttechnology-focused venture capital fund, having over USD 100 billion in the capital.