【CNMO News】As an internationally renowned technology investment company, SoftBank Group has received a lot of attention, and its Vision Fund has invested in many well-known companies around the world. On September 14, market news said SoftBank was considering launching its third Vision Fund.
SoftBank
It is reported that people familiar with the matter said that SoftBank Group is considering launching a new large venture capital fund. If SoftBank continues to advance this plan, the group may use its own funds to establish a third SoftBank Vision Fund.
Currently, SoftBank’s two Vision Funds have invested in a total of 473 companies. Public information shows that SoftBank Vision Fund Phase I (SVF1) was established in 2016, and SoftBank Vision Fund Phase II (SVF2) was initiated in 2019.
In August this year, SoftBank released its financial report for the first quarter of fiscal year 2022 (April-June 2022). Data shows that SoftBank lost 3.16 trillion yen in the second quarter, setting a record of 1.7 trillion yen in the first quarter, and continued to create the largest loss in the history of the company, and the situation is really a bit tragic. Specifically, SoftBank Vision Fund lost 293.4 billion yen on the e-commerce platform Coupang, and 220.7 billion yen on the US version of "Hungry" DoorDash.
Not only that, as the depreciation of the yen pushed up the debt value denominated in US dollars, SoftBank's foreign exchange losses in the quarter reached 820 billion yen, and the losses were also not corrected
In response, SoftBank Chairman and CEO Masayoshi Son said at the financial report press conference that he would consider all possible cost-cutting methods, including layoffs. Not long ago, it was reported that SoftBank’s Vision Fund plans to lay off 100 employees worldwide, accounting for 20% of the fund’s employees.
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