TOKYO: SoftBank Group Corp announced on Friday a second Vision Fund aimed at investing in technology firms, saying it has secured memoranda of ...
TOKYO: SoftBank Group Corp announced on Friday a second Vision Fund aimed at investing in technology firms, saying it has secured memoranda of understanding for about US$108 billion from companies including Apple Inc and Microsoft Corp .
"Those investing two years ago were investing in the vision, there was no proof the concept was going to succeed," said Sanford C. Bernstein analyst Chris Lane. SoftBank said in May the first fund has generated a 45per cent internal rate of return for investors in its common shares, or 29per cent when debt-like preferred shares are included - although the gains are mostly unrealized.Other investors in the fund include the National Investment Corporation of National Bank of Kazakhstan, Standard Chartered Bank PLC , and undisclosed investors from Taiwan.
SoftBank did not name Goldman Sachs Group Inc as an investor. The Wall Street Journal on Wednesday said the U.S. investment bank would invest in the fund.
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