Tag: Masayoshi Son

Masayoshi Son, BFSI News, ET BFSI

Banking & Finance

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BENGALURU: SoftBank is the biggest foreign investor in India’s startup ecosystem, the Japanese conglomerate’s founder and CEO Masayoshi Son said on Friday at the Infinity Forum, a thought leadership forum on fintech..

Son said that he had made a commitment to Prime Minister Narendra Modi that he would invest $5 billion in India, but in the last ten years, Softbank has already invested $14 billion. This year alone it has invested $3 billion.

“We are providers of about 10% of the funding to all unicorns in India,” Son said.

SoftBank’s investments in India include those in Flipkart, Paytm, Swiggy, Zeta, among others. “I believe in the future of India. I believe in the passion of young entrepreneurs in India. I tell the young people in India—let’s make it happen, I will support,” he said.

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Personal Finance

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SoftBank‘s Vision Fund is preparing to raise between $500 million and $600 million via an initial public offering of its first special purpose acquisition company (SPAC), U.S. news portal Axios reported on Sunday, citing multiple sources.

SoftBank is said to be preparing for at least two additional SPACs, the report added. A SoftBank spokesman declined to comment.

Reuters reported in October that the Vision Fund was targeting external funding for a blank-cheque company.

Such a move would see Masayoshi Son‘s SoftBank joining the rush for SPACs, shell vehicles that raise money in an initial public offering (IPO) before merging with a privately held company. The vehicles are being using to take a record number of companies public, bypassing the traditional IPO route.

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