UPDATE 2-Most SoftBank Vision Fund investors want to join second fund -CEO Son [Reuters]
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Source: Reuters
Most SoftBank Vision Fund investors want to join second fund: CEO Son - Reuters 3 Min Read TOKYO (Reuters) - Most investors in SoftBank Group Corp’s $100 billion Vision Fund want to join the group’s forthcoming second fund, founder and Chief Executive Masayoshi Son said on Wednesday, adding discussions would begin soon. The entrepreneur said in May a second fund would launch “soon”, with SoftBank likely to be the only investor initially. Raising further funds is essential if Son is to extend his spending spree on late-stage startups around the world. Investors in the first fund include the sovereign wealth funds of Saudi Arabia and Abu Dhabi, Apple Inc and Foxconn, formally known as Hon Hai Precision Industry Co Ltd. The Vision Fund will ramp up its employee numbers to 1,000 from 400 currently, Son said at the group’s annual general meeting. The fund’s head, Rajeev Misra, said he sees investment rising to 100-150 companies, from around 80 at present. Internet firms now dominate rankin
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