Deals
SoftBank's Son Chases Boyhood Dreams With $100 Billion Fund
- Apple, Qualcomm and Saudis are backing new tech fund
- Son’s spending spree may inflate valuations, crimp returns
SoftBank's Son Vows to Be Biggest Tech Investor
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When Masayoshi Son was a boy growing up on Japan’s southern island of Kyushu, he kept a notebook to scribble down new inventions he hoped to create one day. Today, the SoftBank founder has almost $100 billion to invest on making the next big thing a reality.
Son’s SoftBank Group Corp. closed the first round of a planned $100 billion investment fund, with money raised from Saudi Arabia, Abu Dhabi, as well as Apple Inc. and Qualcomm Inc. The Vision Fund gives the 59-year-old access to a pool of capital unparalleled in the worlds of private equity or venture capital -- the equivalent of four Silver Lakes or 15 Sequoia Capitals.