Softbank launches new $100B+ Vision fund aimed at AI
The stated objective of the new “SoftBank Vision Fund 2” is to facilitate the continued acceleration of the AI revolution through investment in market-leading, tech-enabled growth companies. The total expected contribution of capital to the Fund, says the company, has reached approximately $108 billion based on a series of Memoranda of Understandings (MOUs).
Softbank says it intends to invest $38 billion in the Fund. Other institutions that have have executed MOUs and are expected to participate in the Fund include Apple, Foxconn Technology Group, Microsoft, Mizuho Bank, Sumitomo Mitsui Banking Corporation, MUFG Bank, The Dai-ichi Life Insurance Company, Sumitomo Mitsui Trust Bank, SMBC Nikko Securities, Daiwa Securities Group, National Investment Corporation of National Bank of Kazakhstan, Standard Chartered Bank, and major participants from Taiwan.
According to the company, discussions are ongoing with additional participants in the Fund, and the total anticipated capital contribution to the Fund is expected to increase. SB Investment Advisers (UK) will manage the fund.
SoftBank launched its first Vision Fund in 2017. That $100 billion fund targeted a wide range of technology investments.
Related articles:
Smart innovation fund targets AI, automation
Qualcomm launches $100M AI fund
New Toyota fund to invest in autonomous mobility, robotics
SoftBank, GM deal to speed self-driving car deployment
If you enjoyed this article, you will like the following ones: don't miss them by subscribing to :
