Most SoftBank Vision Fund investors want to join second fund: CEO Son

FILE PHOTO: Japan’s SoftBank Group Corp Chief Executive Masayoshi Son bows his head after his presentation at a news conference in Tokyo, Japan, November 5, 2018. REUTERS/Kim Kyung-Hoon

TOKYO (Reuters) – Most investors in SoftBank Group Corp’s $100 billion Vision Fund want to join the group’s forthcoming second fund, founder and Chief Executive Masayoshi Son said on Wednesday.

SoftBank will soon start discussing the second fund with the investors, Son said at the group’s annual general meeting, without providing further details.

The entrepreneur said in May a second fund would launch “soon”, with SoftBank likely to be the only investor initially.

Investors in the first Vision Fund, which has invested more than $80 billion in late-stage startups, include the sovereign wealth funds of Saudi Arabia and Abu Dhabi, Apple Inc and Foxconn, formally known as Hon Hai Precision Industry Co Ltd.

Reporting by Sam Nussey; Editing by Christopher Cushing

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