SoftBank's Vision Fund has got closer to its $100bn target and now stands at $98.6bn, as it puts together a team for its Chinese office.
Japan-based telecommunications group SoftBank has increased the size of its Vision Fund to almost $98.6bn and is looking to open an office in China.
SoftBank established Vision Fund with $28bn of cash and assets plus $1bn each from corporate limited partners Apple, Foxconn, Qualcomm and Sharp, $45bn from Saudi Arabia’s Public Investment Fund and $15bn from Abu Dhabi’s Mubadala Investment Company.
The vehicle reached a $93bn first close in May 2017 and had been expanded to $97.7bn by November the same year. SoftBank has set a $100bn target for its final close.
Vision Fund revealed in a securities filing on Monday that it has now raised $98.6bn from 14 investors, up from $93.2bn from eight investors in 2017. SoftBank has previously revealed in a financial report last month that it had invested $5bn in the fund in the meantime.
The news emerged as two people with direct knowledge of the…
