Softbank and Saudi Arabia have partnered to launch a $100 bln technology investment fund, which will focus on emerging tech firms and unorthodox markets outside the realm of common investments such as oil and real estate.
Both Softbank and Saudi Arabia’s Public Investment Fund (PIF) have agreed to provide $25 bln and $45 bln respectively to the Softbank Vision Fund, while the remaining $30 bln will be invested by an undisclosed group of investors.
Masayoshi Son, Chairman & CEO of Softbank stated:
“With the establishment of the Softbank Vision Fund, we will be able to step up investments in technology companies globally. Over the next decade, the Softbank Vision Fund will be the biggest investor in the technology sector. We will further accelerate the Information Revolution by contributing to its development.”
https://cointelegraph.com/news/softbank-saudi-arabia-to-invest-100-bln-in-tech-revolution-fintech-startups-first-to-benefit
