SoftBank shares up after closing US$93 billion Vision Fund
Fund to help develop “foundational platforms of the next stage of the information revolution”
SoftBank has closed the first round of its Vision Fund, coming in at US$93 billion, with a goal of reaching the US$100 billion mark within the next six months. Backers of the fund include Apple, Qualcomm, Foxconn, UAE-based Mubadala Investment Company, and Saudi Arabian PID public fund.
“SoftBank has long made bold investments in transformative technologies and supported disruptive entrepreneurs. The SoftBank Vision Fund is consistent with this strategy and will help build and grow businesses creating the foundational platforms of the next stage of the Information Revolution,” SoftBank CEO Masayoshi Son said in a statement.
SoftBank shares were up 1.86% in Tokyo trading on Monday.