Photo credit: moovstock / 123RF.
Japanese telco SoftBank had another active year as one of the continent’s most prolific investors. From seed stage to series F, SoftBank funded startups in ride-hailing, virtual reality, real estate, and more.
It was busy with other deals too, like its acquisition of ARM in July. SoftBank also made US$8.6 billion over the summer by selling its majority stake in Finnish gaming company Supercell – maker of Clash of Clans – to Tencent.
But it wasn’t all smooth sailing. In June, SoftBank COO and president Nikesh Arora abruptly left the company less than two years after joining. Largely believed to be in line to succeed billionaire founder Masayoshi Son, Nikesh left after an investigation cleared allegations from multiple SoftBank investors concerning conflict of interest.
Here are ten of SoftBank’s top investments this year, pulled from the Tech in Asia Database, ordered by funding size. Note that these are total investment amounts, not SoftBank’s individual contribution.
Didi Chuxing
- US$7.3 billion
- China’s ride-hailing king also attracted Apple largesse
Apple’s Tim Cook with Didi’s Jean Liu, pictured in Beijing shortly after Apple’s investment was announced. Photo credit: Tim Cook on Twitter.
Didi Chuxing, China’s largest ride-hailing company, has a knack for raising money. Multiple investors have poured billions upon billions into the Chinese unicorn, aiding its battle against former arch-rival Uber, whose China business it scooped up earlier this year in a shock deal.
In June, SoftBank joined Didi’s posse of investors, participating in a round worth US$7.3 billion. It’s Didi’s biggest ever capital boost, with one billion of it coming from Apple.
In addition to raising money, the Chinese company has set up multiple partnerships with other transportation companies, such as car rental company Avis Budget Group and bike-sharing app Ofo. Didi has also been battling new regulations around ride-hailing in China which limit who can drive and what kind of cars they’re allowed to use.
OneWeb
- US$1 billion
- Needs the cash to battle Elon Musk’s Space X
Announced on Monday, SoftBank put US$1 billion into US-based OneWeb, which is planning to “bridge the digital divide” via hundreds of satellites that can provide internet access to rural areas and developing countries. It will compete against Elon Musk’s Space X, which also wants to provide high-speed internet through satellites – more than 4,000 of them.
In the same round, OneWeb raised another US$200 million from other investors, including Qualcomm and Grupo Salinas.
Grab
Hike
Baidu Video
Oyo Rooms
NextVR
BigCommerce
EdCast
Housing
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