SoftBank Group's Second Vision Fund is accelerating its buying in the second quarter, with investments of about $13 billion in at least 50 companies, many of which have yet to be announced, the Financial Times reports.
Visibility
According to Arab Net, this is up from $2 billion in the first quarter, when the fund bought stakes in less than two dozen companies, according to the Financial Times, citing public disclosures.
Compared to SoftBank's first $100 billion Vision Fund, the Japanese group is placing fewer bets on the healthcare and software business with its second fund, the newspaper said.
SoftBank's first vision fund became known for buying billions of dollars in stakes in companies such as Chinese app Didi Chuxing and flexible working group WeWork, which bolstered the fund's revenue amid competition in major markets.
His returns were recently boosted after a number of companies he invested in went public, including South Korean e-commerce group Coupang and US meal delivery company DoorDash.
With Vision Fund II, the Japanese group changed its approach, instead placing lower bets on healthcare and software companies rather than investing billions of dollars in urban mobility and heavy industries like construction.
One person familiar with the matter said the First Vision Fund needs to invest at least $100 million per deal as part of an agreement with its investors, limiting its ability to make investments in relatively small companies.
