Softbank has committed $28bn to its Vision Fund, including $8.2bn through the transfer of a 24.99% stake in its chip design subsidiary Arm.

Japan-based technology conglomerate SoftBank Group has made a first close at $93bn of its corporate venturing fund after commitments from Middle Eastern sovereign wealth funds and at least four other corporations.

Softbank has committed $28bn to its Vision Fund, including $8.2bn through the transfer of a 24.99% stake in its chip design subsidiary Arm. Other investors included Public Investment Fund of the Kingdom of Saudi Arabia (PIF), reported to have committed $45bn, and Mubadala Investment Company of the United Arab…

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