Rajeev Misra, CEO of the primary investment advising arm for the SoftBank Vision Fund, has stepped away from his role in the Japanese conglomerate to build a new venture fund, Bloomberg reported, citing sources familiar with the matter.
Sources said that Misra has raised over US$6 billion in commitment from several limited partners, such as Abu Dhabi conglomerate Royal Group and state-owned fund ADQ. However, Misra will continue to serve as a senior executive at the Vision Fund.
A SoftBank representative has confirmed the departure.
Misra is a seasoned banker. He joined SoftBank Group in 2014 as head of strategic finance before he was picked by SoftBank’s CEO Masayoshi Son to lead Vision Fund in 2016.
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Last month, SoftBank Group made organizational changes, naming former Morgan Stanley executive Alex Clavel to replace Michael Combes as the CEO of SoftBank Group International – its unit for all investment activities outside of Japan.
The Japanese conglomerate also recently posted a net loss of around US$10.9 billion for the fiscal year ending March 31, 2022.
Editing by Miguel Cordon and Jaclyn Tiu
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