SoftBank secures major funding from the likes of Apple, Qualcomm for Vision Fund venture

5 Jan 2017

Japanese telecoms company SoftBank Group Corp says it has secured significant funding for its London, UK-based tech start-up Vision Fund, including sizeable investments from the likes of Apple, Foxconn, Qualcomm and Larry Ellison (the founder of Oracle). The London-headquartered tech fund is receiving around USD25 billion from SoftBank itself, while Apple has committed USD1 billion into a venture which a spokesman for the firm says ‘may be strategically important to Apple’. Online portal City A.M. says that the latest round of investment should push Vision Fund to its target of achieving USD100 billion in backing ahead of schedule, with the core operations of the fund already in place, and SoftBank now beginning to evaluate what projects it will work on. Moreover, the Japanese telecoms operator is also thought to be in talks with Saudi Arabia’s Public Investment Fund for a commitment that could reach USD45 billion, while Abu Dhabi’s sovereign wealth fund has also held talks with SoftBank, papers say.

Japan, SoftBank Group Corp