Tue. Oct 4th, 2022


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

It will be based in London and helped with $25 billion from SoftBank and up to $45 billion from Saudi Arabia’s sovereign wealth fund over the next five years.

The new fund will be investing for the period of 5 years. Whether it would focus on start-ups or later-stage tech companies is yet to be disclosed. Earlier this year SoftBank purchased UK chip designer Arm Holdings for £24 billion making it the biggest acquisition of a European tech company.

Saudi Arabia’s sovereign wealth fund investments included a $3.5 billion in Uber, earlier this year.

Mr Son, SoftBank’s founder and chairman, informed that the SoftBank Vision Fund would be largest investor in the technology sector for a decade to come. The fund will be led by Rajeev Misra, SoftBank’s head of strategic finance.

By Vicky

Vicky is a digital marketing executive who specializes in technology. He combines his experience in forthcoming technology research. His intension is to create updated website with all modern technology, and modern devices.

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