SoftBank's second Vision Fund makes a rather unspectacular start

Masayoshi Son. Photographer: Kiyoshi Ota/Bloomberg

SoftBank Group Corp. has quietly completed an initial money-raising push for its second technology fund, at a fraction of its targeted $108 billion.

The Japanese company has raised roughly $2 billion for the second Vision Fund so it can start backing startups, according to two people familiar with the matter. This stage of the fund-raising process is known as a first close, and SoftBank will continue gathering commitments. A Vision Fund spokesman declined to comment.

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