SoftBank to raise US$100b fund every 2-3 years: Bloomberg

[TOKYO] SoftBank Group Corp plans to create a new US$100 billion fund every two to three years, its chief executive Masayoshi Son told Bloomberg Businessweek in an interview published on Thursday.

Mr Son has attracted more than US$93 billion to his Vision Fund technology investment vehicle, and has flagged his intention to raise further financing.

Son plans to spend around $50 billion annually, he told Bloomberg. The Vision Fund has made investments in technology companies including ride-hailing firm Uber Technologies Inc and shared-office space firm WeWork.

REUTERS