Apple investing in Softbank’s Vision Fund 2 , the world’’s largest tech-focused venture capital fund

Sam Nussey for Reuters:

SoftBank Group Corp has secured pledges from Microsoft Corp and other investors of around $108 billion for a second Vision Fund aimed at investing in technology firms.

The Japanese conglomerate itself plans to invest $38 billion in the fund, it said in a statement. Others set to join include Apple Inc and Taiwan’s Hon Hai Precision Industry Co Ltd (Foxconn) – both investors in the first fund.

The second fund’s investor base reflects diversification beyond the Middle East that provided most of the first $100 billion fund’s outside capital as SoftBank touts industry-beating returns, with joiners including cash rich Japanese financial institutions and a Kazakh sovereign wealth fund.

Masayoshi Son uses artificial intelligence (AI) as a catch-all term to characterise SoftBank’s investment portfolio, which features businesses as varied as ride-hailing and autonomous driving, insurance and healthcare.

MacDailyNews Take: SoftBank in June reported that the initial Vision Fund had earned 62% returns on investments totaling $64.2 billion in 71 deals. Not a bad return. No wonder Apple’s investing in Vision Fund 2!

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