Softbank Group to Establish 2nd Investment Fund

Economy

Tokyo, July 26 (Jiji Press)--Softbank Group Corp. <9984> said Friday that it will set up a fund worth some 108 billion dollars for investment in artificial intelligence-related companies.

The new fund, Softbank Vision Fund 2, will follow the company's first such fund established in 2017.

With talks with investors continuing, the scale of the fund may grow bigger.

Softbank Group will contribute 38 billion dollars to the fund.

In addition to investors who took part in the first fund, including U.S. technology firm Apple Inc., the new fund will be joined by newcomers such as U.S. technology giant Microsoft Corp., Japan's three megabanks and a Kazakh government-affiliated investment fund.

[Copyright The Jiji Press, Ltd.]

Jiji Press