SoftBank’s Son says second Vision Fund to be rolled out in ‘near future’

Photo: Bloomberg

SoftBank Group Corp Chief Executive Masayoshi Son said on Tuesday a second Vision Fund would be set up in the near future, adding that investment for the new fund could come from investors in the first fund or from institutional investors.

Vision Fund 2 will definitely come,” Son told a conference in Tokyo. He said the fund won’t be launched in the next six months but would be “in the near future”. Son did not say how big the new fund could be.

Son‘s reputation as a visionary investor has attracted enough money to create the world’s largest private equity fund which, as of last May, stood at over $93 billion, with a second Vision Fund potentially further upending the world of dealmaking.

With the Vision Fund and a smaller affiliate fund already investing about $30 billion, and about $13 billion worth of SoftBank’s stake in ride-sharing firms set to be transferred into the Vision Fund, attention is turning to future investment plans.

Son said the new fund could see a return of investors in the original Vision Fund, which include the sovereign wealth funds of Saudi Arabia and Abu Dhabi, Apple Inc and Hon Hai Precision Industry Co Ltd (Foxconn).

“I think our existing partners are extremely happy about how we are progressing,” he said.

Institutional investors are showing interest, Son added. “Now we are building our track record so they are showing their interest,” he said.

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.