SoftBank Launches New $108 Billion "Vision Fund 2"
SoftBank Group Corp. announced today the planned establishment of “SoftBank Vision Fund 2”, a new private investment fund.
The Japanese conglomerate aims to raise a total of $108 billion for the second Vision Fund, which would make it even larger than the first, unprecedented $100 billion effort.
The objective of the Fund is to facilitate the continued acceleration of the AI revolution through investment in market-leading, tech-enabled growth companies.
The total expected contribution of capital tothe Fund has reached approximately USD 108 billion (JPY 11.7trillion) based ona series of Memoranda of Understandings (MOUs).
The SoftBank Group intends toinvest USD 38 billion (JPY 4.1 trillion) in the Fund. The following institutions have executed MOUs and are expected to participate in the Fund: Apple, Foxconn Technology Group,Microsoft Corporation, Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation, MUFG Bank, Ltd., The Dai-ichi Life Insurance Company, Limited, Sumitomo Mitsui Trust Bank, Limited, SMBC Nikko Securities Inc., Daiwa Securities Group Inc., National Investment Corporation of National Bank of Kazakhstan, Standard Chartered Bank, and major participants from Taiwan.
Based on these MOUs, the anticipated amount of capital to be contributed to the Fund has reached approximately USD 108 billion.
The original Vision Fund was announced in October 2016, but took another seven months for its first major closing. Saudi Arabia was the biggest investor with its $45 billion contribution, followed by SoftBank’s $28 billion and $15 billion from Mubadala, the Abu Dhabi wealth fund. Investors also included Qualcomm and Sharp.