The loss will cover the most recent fiscal year, in which WeWork required vast sums to stay solvent and OneWeb and Brandless shut down or filed for bankruptcy.

Japan-based internet and telecommunications group SoftBank disclosed in its annual report yesterday that it expects to lose ¥1.8 trillion ($16.8bn) from its Vision Fund in the fiscal year ending last month.

The loss will be booked on paper and reflects the ongoing issues faced by portfolio companies including co-working space provider WeWork, which SoftBank had to bail out with up to $9.5bn in financing in October, and satellite internet service developer OneWeb, which filed for bankruptcy last month.

…

Subscribe to go deeper

GCV subscribers get access to all our proprietary data and deep-dive articles, as well as the global directory of CVC investors.



Not sure if you have a subscription?
Robert Lavine

Robert Lavine is special features editor for Global Venturing.
email
Linked in