SoftBank's $100b Vision Fund to shed 15% of staff

The Vision Fund's $100 million backing for Biofourmis, a U.S. startup that tracks health data using wearable devices, highlights its new focus on early-stage investments. (Photo courtesy of Biofourmis)

SoftBank Group’s $100 billion Vision Fund is shedding 15% of its staff following the investment vehicle’s aggressive bets on startups that wiped $16.7 billion off its value, Nikkei has learned.

Management arm SoftBank Investment Advisers will see reductions to its 500 or so employees. This marks the first cut in the fund’s payroll, which had been expanding since 2016. The company declined to comment.

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