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SoftBank Group announces $108 billion Vision Fund

The Japanese multinational conglomerate holding company SoftBank Group announced a massive $108 billion Vision Fund 2 aimed for Artificial Intelligence (AI).

The said SoftBank Vision Fund 2 private investment fund is aimed to further expand the acceleration of the AI innovation through investment in leading tech companies. SoftBank Group released a total expected capital Fund of $108 billion based on a series of Memoranda of Understandings (MOUs).

SoftBank itself is investing $38 billion in the Fund. Big tech companies like Apple, Foxconn Technology Group and Microsoft Corporation are expected to engage in the Funding. Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation, MUFG Bank, Ltd., The Dai-ichi Life Insurance Company, Limited, Sumitomo Mitsui Trust Bank, Limited, SMBC Nikko Securities Inc., Daiwa Securities Group Inc., National Investment Corporation of National Bank of Kazakhstan, Standard Chartered Bank, and major participants from Taiwan are companies that expected to participate.

The first Vision Fund has launched 2 years ago. $60 billion of the fund went to backing over 80 tech startups. Sanford C. Bernstein’s senior analyst Chris Lane commented on the Fund saying, “Those investing two years ago were investing in the vision, there was no proof the concept was going to succeed. “Given the track record achieved over the last two years, Vision Fund 2 has been substantially de-risked.”

Discussions for other participants for the Fund are ongoing.

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