Miguel Cordon · · 1 min readSoftBank 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.
Photo credit: moovstock / 123RF
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.
Editing by Eileen C. Ang and Charmaine de Lazo
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