SoftBank’s second Vision Fund supports financial speed

SoftBank’s second Vision Fund poured about $ 13bn into more than 50 companies in the second quarter, according to two people who reported the figures, which shows a temporary increase in its economy.

In the first three months of the year, the fund invested less than $ 2bn in fewer than a dozen companies, according to a report. Most of his recent businesses had not yet been made public, one of the people said.

SoftBank’s increase in revenue comes as other investors such as Tiger Global Management have pumped up value for money. basics, providing the first phase of the professional secretarial work.

The first $ 100bn Vision Fund was recognized for its multimillion-dollar corporate venture as a Chinese transit program Didi Chuxing and WeWork’s flexible working team, contributes to many of the shortcomings as they compete in major markets.

His return was boosted recently by a number of established companies coming to market, including South Korean business group Coupang and US food service company DoorDash.

With the second Vision Fund, the Japanese team has changed its approach – instead placing smaller bets on medical services and local programs instead of just investing billions in rich cities and industries, such as construction.

The first Vision Fund should invest at least $ 100m in the contract as part of a joint venture with investors, says one person briefly in this regard, which reduces his ability to make money in small companies.

SoftBank, led by Masayoshi Son chief executive, has donated $ 30bn of its capital to the new fund after failing to secure funding from foreign donors, such as Abu Dhabi and Saudi Arabian government funds.

Deep Nishar, a senior executive at Vision Fund in the US, says the second Vision Fund has begun “partnering in the past for a long-term company” in an effort to secure a better deal.

“In the current stock market, accounting is pretty much the beginning of something in the industry compared to a very late period,” Nishar said.

Mmhmm ​​said Wednesday that it raised $ 100m in so-called Series B funding under the second Vision Fund. The fund also raised $ 140m second in the company’s intelligence firm Vianai Systems in June.

In some of the first installments, such as the popular Cameo video program, the second Vision Fund has taken a seat behind business competitors, making tens of millions of dollars instead of hundreds of millions at a time.

SoftBank does not expect to raise funds from foreign investors in the second Vision Fund, although it may be able to generate more revenue, said one source. The company initially claimed to have received $ 108bn of the fund.

Vision Fund executives want to play down We work and other high-end challenges from the first bag, and a focus on starting to apply creative design skills.

The new fund has invested about $ 20bn in more than 90 startups and had plans to sell it to at least 30 other companies, two people said in a statement. By comparison, the first Vision Fund raised $ 85.7bn in less than 100 companies.

“There is a shortage of manufacturing companies that need a lot of money to get started right away,” Nishar said.

SoftBank does not always have the opportunity to make money in small companies. The start-up and anonymous marketing program with Wag dogs all faced difficulties after receiving large sums of money from the first Vision Fund.

The second Vision Fund never escaped the big bets. In May, the fund raised $ 775m in Perch, one of the highest paid groups seeking to strengthen independent entrepreneurs in the Amazon.

Several partners and other executives have recently emerged from the Vision Funds management team, including Ervin Tu, a co-founder at ByteDance and the leading company Uber. Jeffrey Housenbold, the largest producer of consumer goods in the US, left earlier this year.

SoftBank has added 30 new members to its budget over the past four months. In February, the fund hired Microsoft chief executive Nagraj Kashyap as its managing director of financial services.