Tag: Vision Fund
With few appealing options in Japan, no wonder the likes of Masayoshi Son choose to take their venture-capital dollars elsewhere.
The sum represents a massive 10% of issued shares aimed at improving finances and shareholder returns.
SoftBank is expected to finalise its investment in Grab this month.
Net profit rose to 840 billion yen (US$7.4 billion) from 103 billion yen during the same period last year, the Japanese mobile giant and IT investor said.
The investment will come from the SoftBank Vision Fund, created to channel investments into some of the world’s most influential companies in an effort to stake out a dominant position in future technologies.
Son has begun turning SoftBank into a giant investment portfolio with money injected into ride-hailing to co-working spaces while offloading mobile assets.
A 4-year-old startup, SenseTime makes systems that analyse faces and images on a huge scale and contributes to China’s vast surveillance system.
The Japanese government outlaws non-professional drivers from transporting paying customers on safety grounds.