The company is considering taking its fund public and launching a second fund of at least the same size. It’s also negotiating with Oman for an investment of billions of dollars into the Vision Fund, which currently gets nearly all its money from Saudi Arabia and Abu Dhabi—its biggest funder is the former country’s sovereign wealth fund, which has committed US$45 billion. The fund will also double its staff to 800 people over the next 18 to 24 months. (Wall Street Journal, TechCrunch)
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The company is considering taking its fund public and launching a second fund of at least the same size. It’s also negotiating with Oman for an investment of billions of dollars into the Vision Fund, which currently gets nearly all its money from Saudi Arabia and Abu Dhabi—its biggest funder is the former country’s sovereign wealth fund, which has committed US$45 billion. The fund will also double its staff to 800 people over the next 18 to 24 months. (Wall Street Journal, TechCrunch)
Talking point: Masayoshi Son, SoftBank’s CEO, has been negotiating deals at a pace that even the company’s massive Vision Fund cannot keep up with. Established in 2017, the fund’s money was meant to be invested over a four-year period, but it’s set to run out in just over two. The upcoming IPOs of portfolio companies Uber and WeWork will bring in some cash if SoftBank decides to sell some of its stakes in them, but they still wouldn’t be enough for Son’s buying plans.
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