SoftBank scales back on second Vision Fund
SoftBank has retraced back on its second Vision Fund following the failure of big investments including WeWork by its first fund rattled partners such as Saudi Arabia, reports Bloomberg Quint.
The news was first reported by the Sunday Telegraph.
According to the publication, SoftBank is expected to fall significantly short of the $108 billion for its second Vision Fund. However, talks are ongoing with potential partners including Mubadala Investment Co. and the Public Investment Fund, the sovereign wealth funds of Abu Dhabi and Saudi Arabia.
According to reports, no commitment has been made so far. However, a Vision Fund spokesman said that fundraising was progressing as expected as external investors assess their potential commitments.