Masayoshi Son and Mohammed bin Salman (Credit: Getty Images)
SoftBank’s second Vision Fund already has one major investor.
Saudi Arabia’s Public Investment Fund plans to put $45 billion into the new fund, two years after making an investment of the same amount, Bloomberg reported. The PIF, which is looking to deploy a $170 billion windfall, has seen a “huge benefit” from the first Vision Fund, according to Crown Prince Mohammed bin Salman.
Masayoshi Son’s Vision Fund has poured billions into several real estate tech ventures in recent years. Last month, the Japanese conglomerate announced a $400 million investment in Opendoor, a home-flipping startup. At the same time, brokerage Compass raised a $400 million Series F led by SoftBank’s Vision Fund and Qatar Investment Authority. The deal, which is SoftBank’s second investment in the firm, values Compass at $4.4 billion.
The Vision Fund is also reportedly in talks to invest more in WeWork, in a deal that would value the co-working giant between $35 billion and $40 billion.
Last month, Son told Bloomberg he planned to raise a new $100 billion fund every two to three years. [Bloomberg] — Meenal Vamburkar
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