SoftBank Vision Fund News
19 articles
SoftBank Vision Fund to lay off 20% of employees in shift to bold AI bets, source and memo say
SoftBank Vision Fund posts first annual gain in 3 years, up $4.6 billion
SoftBanks Vision Fund posted a gain of 724.3 billion Japanese yen ($4.6 billion) in the fiscal year ended in March, marking its first profit since 2021. The profit was largely due to the increase in value of some of SoftBanks investments, including ByteDance and DoorDash, and the IPO of chip designer Arm. Despite some losses, such as Chinese ride-hailing firm DiDi and WeWork, the companys overall loss for the year was narrower than the previous fiscal year. SoftBanks CFO, Yoshimitsu Goto, stated that the company has shifted from an Alibaba to AI-centric portfolio, with Arm becoming a central part of SoftBanks portfolio.
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קרנות הענק טייגר גלובל, סופטבנק וקוטו לוקחות צעד אחורה מישראל
John Curtius, the leading partner of Tiger Global, one of the leading investment funds of the Corona era, is planning to leave his position next year. This has a significant impact on the industry as he was the link between Tiger Globals large fund and dozens of Israeli entrepreneurs seeking fast funding. Tiger Global has almost completely stopped investing in mature Israeli high-tech companies and has moved to tiny investments of a few million dollars in young companies. Curtius, meanwhile, continues to operate in the fund until 2023, during which he will leave Tiger Global with the aim of setting up his own fund.
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SoftBank Vision Fund is reportedly laying off 30% of its workforce, or at least 150 employees
SoftBanks venture capital arm, the Vision Fund, is undergoing a layoff process, cutting approximately 30% of its workforce globally. This comes after SoftBank reported a record loss of $23.4 billion in the three months ended in June. The majority of the loss is tied to the Vision Fund, which has backed over 470 startups. SoftBank has marked down the valuations of several portfolio companies, including Oyo and Klarna. Despite the losses, SoftBank is reportedly considering launching a third Vision Fund.
Layoffs
סמנכ"לית המחקר של רפאל אירית אידן עוברת לסופטבנק
SoftBank has appointed Dr. Irit Idan, the former Executive Vice President of Research and Development at Rafael Advanced Defense Systems, as an independent investment advisor. This move comes as part of a significant recruitment wave led by the fund in Israel. Dr. Idan is joining former Mossad chief Yossi Cohen, who was appointed to manage the Israeli operations six months ago. Dr. Idans appointment could signal a deepening of SoftBanks investments in Israel in the fields of cyber and semiconductors.
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"My challenge at SoftBank is to find the next unicorn," says former Mossad chief, Yossi Cohen
SoftBanks new head of investment advisers, Yossi Cohen, expressed the companys intention to significantly increase its involvement in the Israeli startup market. Cohen mentioned that SoftBank is building a strong presence in Israel and is recruiting a team in the country. The company aims to understand the technologies being developed and make the right investment decisions. Cohen also stated that SoftBank wants to know who will be the next Israeli unicorn. He believes that there is a growing need for advanced technologies globally and that Israeli companies are no longer just seeking an exit but want to become big and leading companies. The article does not mention any specific partners, customers, valuation amount, layoffs, or investment/acquisition amounts. The date of the event described in the article is not provided.
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SoftBank Vision Fund 2 Takes Stake in OurCrowd
SoftBank a big believer in Israeli high-tech, says former Mossad Chief Yossi Cohen
Yossi Cohen, the former Mossad chief, has made his first public speech since being appointed to head SoftBank’s investment operations in Israel. Cohen praised the local tech ecosystem, calling it 21st century Zionism at its best. He also spoke about the need to preserve the success of the high-tech economy and connect it to the wider Israeli economy. Cohen also discussed his new role at SoftBank, stating that one of his jobs is to run SoftBank in Israel, a statement he believes indicates the confidence of an investor of this magnitude in Israels stability and technology.
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Exclusive: SoftBank taps ex-Mossad chief to head Israel office
SoftBank, the worlds biggest VC firm, is opening an office in Israel and appointing former Mossad chief Yossi Cohen as manager of its activity in Israel. SoftBank intends to invest a minimum of $50 million in growth companies with valuations of at least $250 million that have proven AI technology. Cohen will scout companies for investment and help them find global markets, with a focus on Asia. SoftBank sees Israel as a natural fit for its investment vision due to the advanced technology and entrepreneurial culture in the country.
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SoftBank bets $30bn of its own capital on Vision Fund II Private Equity International
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SoftBank Boosts Size of Vision Fund 2 to $30 Billion
SoftBank Group is increasing the size of its Vision Fund 2, the companys second venture-capital portfolio, from $10 billion to $30 billion, according to Navneet Govil, CFO of SoftBank Investment Advisers. The announcement was made on May 12, 2021.
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Softbank just shocked its critics by landing the biggest profit in the history of a Japanese company
SoftBank reported a record profit from its Vision Fund unit due to a fourth-quarter investment gain on Coupang. The groups net profit for the year was also the largest ever posted by a Japanese company. SoftBanks success was driven by market enthusiasm for tech stocks and the public listing of Coupang, Auto1 Group, and Uber. To sustain its position, SoftBank will need to replicate this performance with other companies in its Vision Fund portfolio. SoftBanks Vision Fund has a total fair value of $154 billion, with the company distributing $22.3 billion to limited partners. SoftBank has also expanded its committed capital in the second fund to $30 billion. The company has completed a buyback program and is now considering inviting third-party money into Vision Fund 2.
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https://www.ft.com/content/1fc0f28e-27ef-4891-8451-4d9bc82a0a26V
SoftBank's Vision Fund tumbles to $18 billion loss in 'valley of coronavirus'
SoftBank Group Corp reported a record loss of $18 billion at its Vision Fund, primarily due to losses at WeWork and Uber. The company plans to raise 1.25 trillion yen against its stake in Alibaba Group. The coronavirus crisis has deepened the financial crisis at SoftBanks portfolio companies. SoftBank has loosened ties with Alibaba Group and provided little detail on the companies that saw writedowns. The company has pledged to sell or monetize $41 billion in assets to finance a share buyback and prop up its share price.
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SoftBank announces AI-focused second $108 billion Vision Fund with LPs including Microsoft, Apple and Foxconn
SoftBank Group will launch its second Vision Fund with participation from Apple, Foxconn, Microsoft, and other tech companies and investors. The fund, called Vision Fund 2, will focus on AI-based technology and has reached a capital of about $108 billion. SoftBanks own investment in the fund will be $38 billion. The second Vision Fund aims to decrease SoftBanks reliance on Saudi Arabian investment and potentially change the relationship between startups, corporate giants, and investors. The full list of participants who have signed MOUs so far includes Apple, Foxconn Technology Group, Microsoft Corporation, and others.
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How Much Is the World's Largest Tech Fund Worth to SoftBank?
SoftBank's $100B Vision Fund could get more capital from the Middle East
SoftBanks Vision Fund is seeking more capital from the Middle East to reach its $100 billion fundraising target. The fund has already deployed one-third of the $93 billion it raised in its first close. SoftBank has engaged in dialogue with Bahrains sovereign wealth fund Mumtalakat to join as a backer. Mumtalakats portfolio is valued at over $10 billion and includes Bahrain-based operator Batelco. SoftBank is also considering a follow-up to the Vision Fund. Apple, Foxconn, and Qualcomm are among the publicly disclosed LPs in the Vision Fund.
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Masayoshi Son's Grand Plan for SoftBank's $100 Billion Vision Fund (Published 2017)
SoftBanks Vision Fund, led by Masayoshi Son, has invested $164 million in mapping start-up Mapbox. Sons grand plan is to own pieces of all the companies that may underpin the global shifts brought on by artificial intelligence. SoftBank has invested billions of dollars in companies involved in collecting enormous amounts of data, which are crucial to creating the brains for machines that will do more of our jobs. SoftBank is also involved in a plan to buy nearly a fifth of Ubers existing stock. The company aims to accumulate Ubers stock through a tender offer that could value the company at a discount to its current valuation of $68.5 billion.
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SoftBank and Saudi Arabia Partner to Form Giant Investment Fund (Published 2016)
SoftBank and Saudi Arabia are partnering to form a new investment fund, the SoftBank Vision Fund, which aims to invest up to $100 billion in technology companies worldwide. SoftBank will invest at least $25 billion, while Saudi Arabia is considering investing at least $45 billion. The fund may also include other partners. This move is part of SoftBanks strategy to expand its global footprint and become one of the worlds largest tech investors. Saudi Arabias Public Investment Fund is leading the investment and is looking to diversify its portfolio beyond oil assets. The SoftBank Vision Fund will be based in Britain and will be led by Rajeev Misra, SoftBanks head of strategic finance.
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