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July 26, 2019 05:21 pm

SoftBank Rolls Out Second Tech Megafund, With Apple Among Top Investors

Japan's SoftBank Group unveiled a second technology megafund even bigger than its nearly $100 billion Vision Fund, answering skeptics who questioned whether anyone could raise so much in such a short time. From a report: Vision Fund 2, as the company is calling it, expects to gather some $108 billion in capital from more than a dozen investors that have signed memorandums of understanding, ranging from Apple, and Microsoft to Kazakhstan's sovereign-wealth fund, SoftBank said Friday. Some $38 billion of that capital will come from SoftBank itself, funded by proceeds from the first Vision Fund. Other investors including Goldman Sachs Group are in active talks to invest, people familiar with the matter said Thursday, and the fund's size is likely to grow. [...] The planned inauguration of the second fund is a victory for SoftBank Chief Executive Masayoshi Son, who started the first Vision Fund just two years ago amid widespread doubt about its viability.

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