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SoftBank spends $2.5 billion to get second Vision Fund off the ground: sources – Source Reuters Tech News

(Reuters) – SoftBank Group Corp (9984.T) has pumped $2.5 billion of its own cash into new investments since October, people familiar with the matter said, hoping to restore its money-making credentials as it courts investors for a successor to its Vision Fund.

FILE PHOTO: People walk behind the logo of SoftBank Corp in Tokyo December 18, 2014. REUTERS/Toru Hanai//File Photo

The Japanese technology conglomerate is also considering investing another $2.5 billion of its own money, one of the people said.

SoftBank Chief Executive Masayoshi Son said last week the company may spend up to two years investing its own money in a bridge fund, to build a portfolio that will give investors enough confidence to participate in a second Vision Fund. To that end, he said SoftBank has already invested “billions” of U.S. dollars, but he did not provide an exact figure.

SoftBank was targeting a $108 billion fundraise for the second Vision Fund, and had committed $38 billion of its own money…

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Source Reuters Tech News

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