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 135 days ago
 Source: inc42.com

SoftBank’s Biggest Backer May Pull Out Of Vision Fund 2

Quick Summary

Under the glare of public and investor scrutiny, Japanese conglomerate SoftBank’s Vision Fund 2 is now under the cloud due to Fund 1’s performance. However, with the drama that ensued over the last few months, the company’s biggest backer — Saudi Arabia’s Public Investment Fund (PIF) — has reportedly suspended plans to invest in the new fund for now. SoftBank Vision Fund was set up in 2017 with a total corpus of $100Bn. Most of this vision fund was raised from Saudi Arabia and Abu Dhabi. SoftBank Vision Fund expects to reach $108 Bn in fund size based on the memorandum of understanding (MoUs) it has signed with investors, but this has become increasingly difficult.

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