Over the weekend, during President Trump’s visit to Saudi Arabia, Japan’s SoftBank Group and Saudi Arabia’s sovereign-wealth Public Investment Fund (PIF) announced the launch of a new tech fund that has so far secured $93 billion of capital. The “SoftBank Vision Fund is targeting a total of $100 billion within six months,” reports The Wall Street Journal, and plans to “steer capital to cutting-edge technologies in U.S. startups and other global firms.” SoftBank CEO Masayoshi Son already promised to invest $50 billion of the new fund in American startups. Continue reading SoftBank, Saudi Arabia Announce World’s Largest Tech Fund

Japan’s SoftBank Group, led by chief exec Masayoshi Son, is partnering with a Saudi sovereign-wealth fund to establish a multibillion-dollar tech investment fund. SoftBank is an ambitious tech investor, as evidenced by its recent deals with China’s Alibaba Group, mobile carrier Sprint and chip designer ARM Holdings. Today, the company “plans to invest at least $25 billion over the next five years through a fund dubbed the SoftBank Vision Fund,” reports The Wall Street Journal. “Saudi Arabia’s Public Investment Fund may contribute an additional $45 billion over the next five years as the fund’s lead partner.” SoftBank is in talks with additional global investors, who could “push the new fund up to $100 billion to become the world’s ‘biggest investor’ in technology over the next decade.” Continue reading SoftBank Signals Major Ambitions with $100 Billion Tech Fund