The SoftBank Ventures Asia unit’s China Ventures Fund II follows a $285m first vehicle it closed three years ago.
SoftBank Ventures Asia, a regional corporate venturing arm of telecommunications and internet conglomerate SoftBank, has formed a second China-focused vehicle, DealStreetAsia reported today, citing a securities filing.
China Ventures Fund II’s target size was undisclosed but SoftBank Ventures Asia said the fundraising period will take less than a year. The unit now has $1.3bn under management across 17 funds having backed some 250 artificial intelligence, internet-of-things and robotics technology developers globally.
Formed in 2000 as a South Korea-focused early-stage vehicle…
