The SoftBank Vision Fund closed its first major capital fund with over $93 billion USD. In addition to SoftBank Group and the Public Investment Fund of the Kingdom of Saudi Arabia as previously announced, investors in the Fund also include the Mubadala Investment Company of United Arab Emirates, Apple, Foxconn Technology Group, Qualcomm and Sharp. The fund targets a total of $100 billion USD of committed capital, with a final close within six months.
SoftBank Group created the SoftBank Vision Fund stemmed from its strongly held belief that building the business for the upcoming information revolution would require unprecedented large scale long-term investment. Additionally, the Fund’s portfolio companies are expected to significantly benefit from SoftBank Group’s global scale and operational expertise, as well as its ecosystem of group portfolio companies (including Spring and Yahoo Japan) helping them to accelerate their own growth profile.
The fund will be SoftBank Group’s primary vehicle to realize its SoftBank 2.0 vision, with preferred access to investments of $100 million USD or more that meet the Fund’s investment strategy.
Jeong-ui Son, Chairman & CEO of SoftBank Group said, “Technology has the potential to address the biggest challenges and risks that humanity faces today.” SoftBank has not only been making bold investments in transformative technologies and but it has also been supporting disruptive entrepreneurs. The SoftBank Vision Fund is consistent with this strategy, which will help build and grow businesses, creating the foundational platforms of the next stage of the information revolution.