SoftBank will reportedly launch a third Vision Fund using its own capital according to an insider with knowledge on the matter.
According to the Wall Street Journal, the fund could launch next year and could follow an expansion of SoftBank’s second Vision Fund, which has run into its own slew of problems as of late.
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While the fund’s launch may not come to fruition, this news comes after CEO Masayoshi Son announced that SoftBank would restructure its Vision Funds in order to alleviate the $50 billion loss seen in the first half of the year.
Recently, the conglomerate walked back on much of its investment activity due to its tumbling portfolio valuation, mainly due to falling tech stocks.
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Source:
Reuters
