Softbank launches new $100B+ Vision fund aimed at AI

July 29, 2019 //By Rich Pell
Softbank launches new $100B+ Vision fund aimed at AI
Multinational conglomerate holding company SoftBank Group (Tokyo, Japan) has announced that it plans to establish a new private investment fund to invest in artificial intelligence (AI) companies with limited partners including Apple and Microsoft.

The stated objective of the new "SoftBank Vision Fund 2" is to facilitate the continued acceleration of the AI revolution through investment in market-leading, tech-enabled growth companies. The total expected contribution of capital to the Fund, says the company, has reached approximately $108 billion based on a series of Memoranda of Understandings (MOUs).

Softbank says it intends to invest $38 billion in the Fund. Other institutions that have have executed MOUs and are expected to participate in the Fund include Apple, Foxconn Technology Group, Microsoft, Mizuho Bank, Sumitomo Mitsui Banking Corporation, MUFG Bank, The Dai-ichi Life Insurance Company, Sumitomo Mitsui Trust Bank, SMBC Nikko Securities, Daiwa Securities Group, National Investment Corporation of National Bank of Kazakhstan, Standard Chartered Bank, and major participants from Taiwan.

According to the company, discussions are ongoing with additional participants in the Fund, and the total anticipated capital contribution to the Fund is expected to increase. SB Investment Advisers (UK) will manage the fund.

SoftBank launched its first Vision Fund in 2017. That $100 billion fund targeted a wide range of technology investments.

SoftBank Group

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