Masayoshi Son, founder and CEO of SoftBank Financial Group in Japan, has announced that he will begin making personal investments in the SoftBank Group's Vision 2 fund.
According to Arabiya Net, it is a controversial move that could lead to a conflict of interest, as SoftBank funds the fund that invests in technology startups.
Son indicated that he can invest in the fund up to $2.6 billion, while his ownership in the fund will be 17.25%.
SoftBank Group's second Vision Fund accelerated its purchases in the second quarter of the year, with approximately $13 billion in investments in at least 50 companies, an undisclosed Several of them have yet to be, according to the Financial Times, citing two sources who have seen the data.
This is up from $2 billion in the first quarter, when the fund bought stakes in fewer than two dozen companies, the Financial Times quoted public disclosures as saying.
Compared to SoftBank's first $100 billion Vision Fund, the Japanese group is placing lower bets on the healthcare and software business with its second fund, the newspaper said. /p>
SoftBank's first vision fund became known for buying multi-billion dollar stakes in companies like Chinese app Didi Chuxing and flexible working group WeWork, fueling fund revenues amid competition in major markets. .
Its revenue was boosted recently after a number of companies it invested in went on the stock exchange, including South Korean e-commerce group Coupang and US meal delivery company DoorDash.< /p>
