Business

SoftBank to raise $100 billion fund every 2-3 years, spend $50 billion annually

Updated : September 27, 2018 12:44 PM IST

SoftBank CEO Masayoshi Son has attracted more than $93 billion to his Vision Fund technology investment vehicle, and has flagged his intention to raise further financing.

The comments reflect Son's dealmaking ambitions that have shaken up the world of venture capital investing as he looks to accelerate his vision of a future driven by artificial intelligence.

SoftBank Group Corp plans to create a new $100 billion fund every two to three years and spend $50 billion annually, its Chief Executive Masayoshi Son told Bloomberg Businessweek in an interview published on Thursday.

Son has attracted more than $93 billion to his Vision Fund technology investment vehicle, and has flagged his intention to raise further financing.

The comments reflect Son's dealmaking ambitions that have shaken up the world of venture capital investing as he looks to accelerate his vision of a future driven by artificial intelligence.

SoftBank did not immediately comment.

The Vision Fund's largest investments to date are in companies including ride-hailing firm Uber Technologies Inc and shared-office space firm WeWork.

Son's comments on the pace of the raising of new funds echo similar comments he made to the Nikkei business daily last year.

Within 10 years, more than 1,000 companies will likely have received investments, he told Nikkei.

SoftBank to raise $100 billion fund every 2-3 years, spend $50 billion annually

You May Also Like

Coronavirus News Jan 15 highlights: As tally crosses 1.05 crore, India set to roll out world's biggest vaccination drive tomorrow

GAIL board approves Rs 1,046 crore share buyback

Closing bell: Sensex, Nifty end over 1% lower; IT stocks drag

Trending on CNBC-TV18

recommended for you