SoftBank managing partner Colin Fan leaves Vision Fund, sources say

During his time in the Japanese conglomerate, Fan was focused on the financial technology sector. He oversaw SoftBank’s portfolio companies including Alibaba Local Services, Fair, Flexport, Greensill, Guazi, and Zume.

London-based managing partner Munish Varma is moving to San Francisco to take on part of Fan’s responsibilities, the people added.

Prior to SoftBank, Fan served as head of global markets and co-head of corporate banking and securities at Deutsche Bank, according to the fund’s website. Moving forward, he will serve as an adviser to SBIA, SoftBank’s UK-established investment arm, said the source.

Earlier this month, another SoftBank managing partner, Jeff Housenbold, was reported to be leaving in order to run his own business. He was involved in the company’s bets on startups such as DoorDash and online real estate firm Opendoor Technologies.

The development follows a string of exits from the investment giant last year, including the retirement of then chief operating officer Ruwan Weerasekera and the departures of chief risk officer Maria Khan, operating partner Avi Golan, investing partners Ted Fike and Justin Wilson, as well as Penny Bodle, who used to head SoftBank’s global investor relations unit.