Softbank Eyeing IPO for 100-B.-Dollar Investment Fund: WSJ

Economy

New York, May 3 (Jiji Press)--Softbank Group Corp. <9984> is considering an initial public offering for a 100-billion-dollar investment fund it set up two years ago, The Wall Street Journal reported on Friday.

The Japanese technology giant is also mulling launching a second fund of at least that size, according to the U.S. business daily.

Through the moves, Softbank apparently aims to further increase investment in startups developing cutting-edge technologies, such as artificial intelligence.

The existing Softbank Vision Fund was established in May 2017 with parties including the Saudi Arabian government.

It has invested in such companies as U.S. ride-sharing company Uber Technologies Inc., which is planning an IPO, and WeWork Companies Inc., a U.S. provider of shared workspaces.

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