SINGAPORE: SoftBank Group Corp. (SBG) has planned establishment of “SoftBank Vision Fund 2”, a new private investment fund.
The objective of the Fund is to facilitate the continued acceleration of the Artificial Intelligence (AI) revolution through investment in market-leading, tech-enabled growth companies.
The total expected contribution of capital to the Fund has reached approximately USD 108 billion based on a series of Memoranda of Understandings (MOUs). SBG intends to invest USD 38 billion in the Fund.
The following institutions have executed MOUs and are expected to participate in the Fund: Apple, Foxconn Technology Group, Microsoft Corporation, Mizuho Bank, Sumitomo Mitsui Banking Corporation, MUFG Bank, The Dai-ichi Life Insurance Company, Sumitomo Mitsui Trust Bank, SMBC Nikko Securities Inc., Daiwa Securities Group Inc., National Investment Corporation of National Bank of Kazakhstan, Standard Chartered Bank, and major participants from Taiwan.
Based on these MOUs, the anticipated amount of capital to be contributed to the Fund has reached approximately USD 108 billion. Discussions are ongoing with additional participants in the Fund. The total anticipated capital contribution to the Fund is expected to increase.
The Fund is expected to be in the scope of SBG’s consolidation in accordance with accounting requirements. As a result, the operational results, and assets and liabilities of the Fund will be included in SBG’s consolidated financial statements. SBG will disclose the financial impact of the Fund as required.