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Friday, 14 October 2016

SoftBank and Saudi Arabia plan $100bn tech fund

SoftBank and Saudi Arabia plan $100bn tech fund:

"SoftBank and Saudi Arabia’s sovereign wealth fund are preparing to launch a new tech fund that will manage as much as $100bn, in a move that will create one of the largest tech investment funds in the world.

The new fund, dubbed the SoftBank Vision Fund, will be based in London and seeded with $25bn from SoftBank and up to $45bn from Saudi Arabia’s Public Investment Fund over the next five years, according to a statement from the Japanese telecoms group.

The unusually large fund underscores investors’ enduring appetite for tech sector investments, even amid concerns in Silicon Valley about inflated valuations for late-stage start-ups such as Uber and Airbnb."

'via Blog this'