SoftBank to launch $108b Vision Fund 2 to spur AI growth

SoftBank announced plans to establish a new fund, SoftBank Vision Fund 2, to accelerate AI growth through investments in tech-enabled growth companies.

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The Japanese conglomerate said the total expected capital for the fund has reached about US$108 billion after landing potential investors such as Apple, Foxconn, Microsoft, and the National Investment Corporation of the National Bank of Kazakhstan. SoftBank itself plans to pour US$38 billion in the fund.

The company also said it is currently in discussions with additional participants in the fund, including but not limited to:

• Mizuho Bank
• Sumitomo Mitsui Banking Corporation
• MUFG Bank
• The Dai-ichi Life Insurance Company
• Sumitomo Mitsui Trust Bank
• SMBC Nikko Securities
• Daiwa Securities Group
• Standard Chartered Bank
• Participants from Taiwan
• The management of Vision Fund 2

Vision Fund 2 will be managed by SoftBank unit SB Investment Advisers and its subsidiary, according to a statement.