SoftBank Ventures Asia raises $270m for early-stage investments

JP Lee, CEO and Managing Partner of SoftBank Ventures Asia, poses for a photograph at the company in Seoul, South Korea, March 4, 2019. REUTERS/Kim Hong-Ji

SoftBank Group Corp said on Friday its Seoul-based venture capital unit focusing on early-stage investments has raised a 317 billion won ($270 million) fund.

SoftBank Ventures Asia’s new fund will invest in early-stage startups globally with a focus on Asia, the tech conglomerate said.

The new fund, which aims to close in the next six months with investors including South Korea’s National Pension Service, reflects a renewed appetite by SoftBank for early-stage investing.

While SoftBank‘s Saudi-backed, $100 billion Vision Fund bestrides the investing scene for late-stage startups, the group’s Chief Operating Officer Marcelo Claure in March launched a $5 billion, Latin American-focused fund.

Previous investments by SoftBank Ventures Asia, which was established in 2000 before its remit was expanded earlier this year, include South Korean gaming company Nexon Co, which made its trading debut in Japan in 2011, and Indonesian e-commerce firm Tokopedia.

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. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

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.