SoftBank’s $100b technology PE Group opens HQ in London’s Mayfair

Photo: Bloomberg

SoftBank Group Corp. has decided to place the headquarters of its $100 billion technology private equity group in the hedge fund heartland of London, and has begun hiring investment advisers.

The SoftBank Vision Fund has opened offices in West London’s Mayfair, at 69 Grosvenor Street. Surrounded on all sides by luxury art galleries in one of the English capital’s most upmarket areas, it’s just a short walk to the city’s flagship designer fashion stores, or a brief stroll to Buckingham Palace.

The giant tech fund, revealed by Tokyo-based SoftBank in October, has hired 10 people for its London office and may hire several dozen more, according to a person familiar with the recruitment drive.

SoftBank Chairman Masayoshi Son also met with U.S. President-elect Donald Trump Tuesday, and promised a $50 billion investment in American startups. Despite the U.S. interest by Son, London is set to be the global hub for the Vision Fund, the person familiar with the fund said. SoftBank already has an office in San Francisco.

Jonathan Bullock, chief operations officer of SoftBank International, and Alok Sama, SoftBank’s chief financial officer, have also been appointed senior advisers to the fund, and will predominately be based in London.

Rajeev Misra, head of strategic finance at SoftBank, has already been announced as leading the fund. Ex-Deutsche Bank AG banker Nizar Al-Bassam and Goldman Sachs Group Inc. partner Dalinc Ariburnu are on board as advisers.

SoftBank’s new location in Mayfair is home to a swathe of luxury brands, but also hedge funds and private family offices, far removed from London’s main technology hub — known as Silicon Roundabout — in the East of the city.

The company is renting the space from an unnamed private investor, who took out a 125-year lease on 69 Grosvenor Street for 35 million pounds ($44.3 million) in March this year.

The investment vehicle — a joint venture with Saudi Arabia’s Public Investment Fund — is currently in talks to raise the remaining $30 billion to meet its $100 billion target, according to a recent statement by Son.

Also Read: SoftBank CEO Son tells Trump he will invest $50b in US startups

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Bloomberg

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.