SoftBank Vision Fund

2017–2018 On 30 January 2017, the Wall Street Journal wrote that SoftBank Group was "weighing an investment of well over $1 billion in shared-office space company WeWork Cos., in what could be among the first deals from its new $100 billion technology fund."[63] On 20 March SoftBank bought a $300m stake in WeWork.[64] On 14 February 2017, SoftBank Group agreed to buy Fortress Investment Group LLC for $3.3 billion.[56] In February 2017, it was announced that Social Finance Inc. was close to raising $500 million from an investor group led by Silver Lake, and also including Softbank.[65] On 28 March 2017, the Wall Street Journal reported that SoftBank Group Corporation had approached Didi Chuxing Technology Co. about investing $6 billion to help the ride-hailing firm expand in self-driving car technologies, with the bulk of the money to come from SoftBank's planned $100 billion Vision Fund.[66] On 18 May 2017, it was reported that Softbank had completed its single largest investment in India to date, investing $1.4 billion in Paytm. At the time, Softbank was also working on a takeover of Flipkart's Snapdeal.[67] On 10 August 2017, Softbank invested $2.5 billion into Flipkart.[68] On 27 May 2017, Softbank and the Public Investment Fund of Saudi Arabia (PIF), the kingdom's main sovereign wealth fund, partnered to create the Softbank Vision Fund, the world's largest private equity fund with a capital of $93 billion.[69] Softbank Group will contribute $28 billion to the investment fund, of which $8.2 billion will come from the sale of approximately 25% of British multinational Arm Holdings shares.[70] Saudi Arabia is the main investor in the fund: its Public Investment Fund (PIF) will inject $45 billion into the Vision Fund over 5 years, becoming its largest investor in terms of volume.[71] Other investors include Apple, Qualcomm, ARM, Foxconn, Sharp, Larry Ellison and Mubadala.[72] The latter will invest $15 billion dollars in the fund, targeting artificial intelligence, communications infrastructure, financial technology, consumer internet, mobile computing and robotics.[73] Through Softbank Vision Fund, CEO Masayoshi Son explained his intent to invest in all companies developing technologies in line with the global artificial intelligence trends, including various sectors such as finance or transportation.[74] In July 2019, SoftBank announced the creation of a "Vision Fund 2", excluding participation from the Saudi Arabia government, and including investors Apple, Foxconn, Microsoft and others. The fund is reported to focus on AI-based technology and reach an investment of approximately $108 billion, of which $38 billion would be its own.[75] In February 2020, however, a report from Wall Street Journal stated the fund will not close its targeted $108 billion, and will end up with less than half of that capital.[76][77] On 8 June 2017, Alphabet Inc. announced the sale of Boston Dynamics (robotics companies whose products include BigDog) to SoftBank Group for an undisclosed sum.[78] On 25 August 2017, SoftBank finalized a $4.4 billion investment in WeWork.[79] On 24 October 2017, Softbank Group's CEO Masayoshi Son announced the group would collaborate with Saudi Arabia to develop Neom, the new high-tech business and industrial city of the Saudi Kingdom.[80] On 14 November 2017, Softbank agreed to invest $10 billion into Uber.[81] On 29 December 2017, it was reported that SoftBank-led consortium of investors had secured a $9 billion investment into Uber. The deal, to close in January 2018, will leave SoftBank as Uber's biggest shareholder, with a 15 percent stake.[82] The deal was secured after Uber shareholders voted to "sell their shares to the Japanese conglomerate at a discounted price." Beyond SoftBank, consortium members included Dragoneer, Tencent, TPG and Sequoia.[83] On 14 January 2018, Softbank's Vision Fund announced to invest $560 million in the German used-car sales portal Auto1.[84] On 1 March 2018, Softbank's Vision Fund led a $535 million investment in DoorDash.[85] In May 2018, CEO Masayoshi Son revealed during an earnings presentation that Walmart had reached a deal to buy Flipkart.[86] On 27 September 2018, Softbank announced investment of $400 Million in Home-Selling Startup Opendoor.[87] In September 2018, Saudi government officials announced that a planned $200 billion project with SoftBank Group to build the world's biggest solar-power-generation project would be put on hold.[88] In November 2018, SoftBank announced it will make an IPO with the cost of share $13.22 (which is 1,500 yen). The offer of the shares was going to last for a month. Regarding the number of shares, the total value of SoftBank will reach $21.15 billion, which would be the second-largest IPO ever made.[89]