SoftBank expects to invest in almost 200 companies with its Vision Funds1 min read . Updated: 30 Oct 2019, 05:21 PM IST
- Rajeev Misra of SoftBank said the firm has 86 companies in its portfolio in fund one, with another 100 in fund two
- SoftBank is still in the process of raising money for the new fund, and has said it expects it to be even larger than the first
LONDON : SoftBank Group Corp. expects to have funded almost 200 companies once its second Vision Fund is up and running, according to Rajeev Misra, the fixed-income veteran who runs the investment vehicle.
'We have 86 companies in our portfolio in fund one, with another 100 in fund two,' Misra said at the Future Investment Initiative in Riyadh on Wednesday. 'So those 186 companies interacting with each other and doing business with each other will be immense.'
Vision Fund 2 is the next iteration of SoftBank’s first $100 billion fund, which since 2017 has sent tremors through the startup world with its giant bets on tech companies, including the now-flailing co-working giant WeWork. The Japanese conglomerate is still in the process of raising money for the new fund, and has said it expects it to be even larger than the first.
Last year, SoftBank Chairman and CEO Masayoshi Son told Businessweek that he plans to raise a new $100 billion fund every two to three years, and invest around $50 billion each year.