SoftBank’s Biggest Backer May Pull Out Of Vision Fund 2
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.
Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by StartupAround.
Advertise with us to boost your article, content pience, product, event, conference discovery to our readers which includes founders, startup enablers, investors and every key stakeholders from global startup eco-system.