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SoftBank\u2019s huge $100 billion\u00a0investment fund \u2014 the largest tech fund in history \u2014\u00a0announced<\/a> its first close today\u2026 and it\u2019s huge.<\/p>\n The Japanese telecom giant revealed that its VisionFund has closed an initial commitment of $93 billion from a bevy of high profile backers. They include Apple<\/a>, Qualcomm, UAE-based\u00a0Mubadala Investment Company,\u00a0Saudi Arabia\u2019s PID public fund, Foxconn, and Foxconn-owned Sharp. The plan is for the fund to reach its $100 billion target within the next six months through commitments from other investors.<\/p>\n The fund is committing to a minimum of $100 million deal checks, with a focus on both minority and majority deals with companies that are either private or public.<\/p>\n That leaves plenty of scope to play in, but some color can be found in a statement from Son explaining that the fund\u00a0aims\u00a0to develop the next phase of the internet and connectivity worldwide:<\/p>\n Technology has the potential to address the biggest challenges and risks facing humanity today. The businesses working to solve these problems will require patient long-term capital and visionary strategic investment partners with the resources to nurture their success,\u201d Son said in a statement.<\/p>\n SoftBank has long made bold investments in transformative technologies and supported disruptive entrepreneurs. The SoftBank Vision Fund is consistent with this strategy and will help build and grow businesses creating the foundational platforms of the next stage of the Information Revolution.<\/p>\n<\/blockquote>\n In terms of specific areas, SoftBank said its areas of focus include internet-of-things, AI, robotics, infrastructure, telecoms, bio tech, fintech, mobile apps and more.<\/p>\n Given the credentials of the companies backing it and its sheer size, the Vision Fund is unprecedented in tech venture capital and it\u2019ll be truly interesting to watch how it is deployed.<\/p>\n Well, we can already pick up some clues.\u00a0The fund has been active, even before this first close. Recent deals include Indian fintech unicorn Paytm<\/a>, virtual reality\u00a0Improbable Worlds<\/a>, China\u2019s Uber killer\u00a0Didi Chuxing<\/a>, and global connectivity company OneWeb<\/a>. Beyond that, there\u2019s been a steady flow of unconfirmed investments<\/a>\u00a0linking\u00a0the fund to companies like WeWork. The party is just getting started.<\/p>\n The announcement of the fund was coordinated alongside\u00a0U.S. President Donald Trump\u2019s visit to\u00a0the Middle East, where two of the Vision Fund\u2019s key backers are located. That\u00a0builds on earlier ties with\u00a0the White House. Back in December, SoftBank CEO Masayoshi Son<\/a>\u00a0met with Trump and pledged to invest $50 billion into the U.S. with the goal of creating 50,000 new jobs.<\/p>\n Featured Image: Cattallina<\/a>\/Shutterstock<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"\n
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SoftBank’s huge $100 billion\u00a0investment fund — the largest tech fund in history —\u00a0announced its first close today… and it’s huge. The Japanese telecom giant revealed that its VisionFund has closed an initial commitment of $93 billion from a bevy of high profile backers. They include Apple, Qualcomm, UAE-based\u00a0Mubadala Investment Company,\u00a0Saudi Arabia’s… Read More<\/a><\/p>\n\n<\/img><\/a>
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