March 8, 2021

Softbank announces a new technology fund with 108,000 million dollars

The Japanese group Softbank announced today the launch of the second version of a fund for investments in technology companies and will be endowed with at least 108,000 million dollars (96,860 million euros).

In the Vision Fund 2 they have committed contributions from firms such as Apple, Microsoft and Japanese financial groups. Softbank will make a total of $ 38 billion available, the group said in a statement.

The first edition of this investment fund was launched in October 2016 to raise about 100,000 million dollars, a completed goal, which made it the largest venture capital fund to finance projects in the technology sector.

For this second initiative, Softbank announced that through the memorandums of understanding with different private companies, a contribution of an additional 108,000 million has been achieved, although additional contributions are expected.

Apart from Apple and Microsoft, among the firms that will join the fund are the Taiwanese Foxconn, one of the Apple brand device manufacturers. Both Foxconn and Apple had also contributed to the first edition of Vision Fund.

Important Japanese financial groups, such as MUFG, SMBC and Mizuho Bank, as well as a sovereign fund of Kazakhstan are also included for the second version.

The list, however, does not include two Saudi firms that did contribute about $ 45 billion to the first release, almost half of the money raised in the first edition of Vision Fund.

Apart from the precise amount that Softbank will contribute, the statement does not detail what amounts the other taxpayers have made available.

. (tagsToTranslate) Softbank (t) announces (t) technological (t) millions (t) dollars

Source link