In brief: SoftBank Ventures Asia to commit $500m for early-stage startups

• Seoul-based SoftBank Ventures Asia, SoftBank’s venture capital unit, is set to launch its biggest fund for early investments as it opens new offices in Asia.
• Its CEO JP Lee told Reuters that the global fund will be worth as much as US$500 million and may launch in April 2019.
• SoftBank, South Korea’s National Pension Service, as well as other companies and asset management firms will provide funding, Lee said.
• SoftBank Ventures Asia plans to open offices and hire investment managers in Singapore and Shanghai. It currently has teams in Seoul, Beijing, San Francisco, and Tel Aviv.

Source: Reuters