SoftBank Vision Fund strategy under scrutiny as deals stall

SoftBank Vision Fund strategy under scrutiny as deals stall

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 founder and Chairman Masayoshi Son on Monday will try to persuade investors that his company’s giant investment fund can bounce back from a 1.8 trillion yen ($16.7 billion) annual loss that dragged the technology conglomerate to its worst-ever result.

New funding deals and initial public offerings are drying up around the world amid the economic uncertainties brought on by the coronavirus pandemic. That is a major headwind for SoftBank’s $100 billion Vision Fund, which had expected many of its investments to go public soon.

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