SoftBank Group Corp plans to use proceeds from its first Vision Fund to bankroll...
TOKYO - SoftBank Group Corp plans to use proceeds from its first Vision Fund to bankroll the $38 billion it has committed to the second, a source said, in a show of unflinching confidence in its huge tech bets commanding sky-high valuations when sold.
With over a third from SoftBank itself, however - using “distributions from Vision Fund 1 and other SoftBank assets”, said the source - that headline figure depends in part on proceeds from existing Vision Fund portfolio firms listing publicly at a brisk pace in a consistently buoyant market. “We are only investing a small amount, a few tens of billions of yen , but SoftBank was insistent the amount shouldn’t be disclosed,” a senior executive at a Japanese financial firm said on condition of anonymity.SoftBank launched its first Vision Fund two years ago. It reached a headline figure of $100 billion due primarily to the sovereign wealth funds of Saudi Arabia and Abu Dhabi - neither of which were listed on Friday as backers of the second fund.
“From around next year we should see IPOs of our investments nearly every month,” Son told Japan’s Nikkei newspaper on Saturday.SoftBank is an investor in the first Vision Fund but also general partner, collecting management performance fees. The two roles helped SoftBank’s internal rate of return to an industry-smashing 62% just two years into the fund’s 12-year lifespan.
For cash, however, SoftBank does not need to rely solely on its portfolio firms floating. The fund returned over $5 billion to investors after exiting two investments - Indian e-commerce firm Flipkart and U.S. microchip designer Nvidia Corp.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Once Upon a Time in Hollywood' Costume Designer Talks Quentin Tarantino's Vision for 1969 Los Angeles'It felt like a talisman for myself, Margot and Quentin.' Costume designer Arianne Phillips explains how Debra Tate arranged a loan of her late sister Sharon Tate's jewelry for Margot Robbie to wear in OnceUponATimeInHollywood
Read more »
John DeLorean Reinvented The Dream Car. Then He Totaled It.At the time, GM was the biggest company in the world and the place to be, but Pontiac struggled with its brand identity and wasn’t connecting with America’s youth—suddenly a huge new consumer driving the country’s emerging car culture.
Read more »
Stakes rising for 2020 Dems ahead of 2nd presidential debateDETROIT (AP) — Democrats gathering in Detroit for a pivotal presidential debate will have to decide, once again, how to respond to President Donald Trump while presenting their own vision for the...
Read more »
Elizabeth Warren just unveiled a trade plan designed to improve the lives of workers and tighten the screws on big corporationsThe presidential hopeful published a Medium post detailing three focus areas she says will help achieve her vision.
Read more »
Grab to invest $2 billion in Indonesia using funds from SoftBankSoutheast Asian ride-hailing firm Grab on Monday said it will invest $2 billion ...
Read more »
Trump signs 9/11 Victim Compensation Fund bill for first respondersSurrounded by 9/11 first responders and their families, Pres. Trump signed the bipartisan 9/11 Victim Compensation bill into law at a Rose Garden ceremony.
Read more »