The world’s biggest technology investment vehicle

Germany’s Daimler is among a group of new international investors who have committed to backing Softbank’s $100 billion Vision Fund, allowing Japanese billionaire Masayoshi Son to close the world’s biggest technology investment vehicle. The Mercedes-Benz carmaker will join three Japanese banks — MUFG, Mizuho and Sumitomo Mitsui Banking Corp — Oracle co-founder Larry Ellison, and the sovereign wealth fund of Bahrain to fill the last $7 billion needed to reach the fund’s $100 billion goal… Mr Son’s ability to close out financing for the $100 billion vehicle in just over a year comes as rival investors question whether his tech focused strategy has pumped too much capital into unproven start-ups, distorting valuations to unsustainable levels… Mr Son, who started SoftBank in the 1980s as a small Japanese software distributor and transformed it into one of the most influential technology investors in the world, is also set to make a personal investment and create structures that allow the company’s executives to participate in the fund. The Vision Fund was formally launched with the backing of the state investment fund of Saudi Arabia in October 2016… Daimler and the Japanese banks are set to be among the smaller investors in the fund, alongside earlier participants such as Apple, Qualcomm, Foxconn and Sharp. About $88 billion of the fund comes from SoftBank, Saudi Arabia and Abu Dhabi.
 
Arash Massoudi, Leo Lewis and Patrick McGee

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