Softbank Vision Fund could see about 10 parties including Apple, Qualcomm, Abu Dhabi govt join fund
About 10 companies and parties, including Apple Inc. [NASDAQ: AAPL] and Qualcomm Inc. [NASDAQ: QCOM], are expected to join the private technology investment fund to be formed by Softbank Group Corp. [TYO: 9984] and the Public Investment Fund of the Kingdom of Saudi Arabia, the Nihon Keizai Shimbun reported.
Other participants of the investment fund, called Softbank Vision Fund, will include an investment fund backed by Abu Dhabi government of United Arab Emirates, and Hon Hai Precision Industry Co., Ltd. [TPE: 2317], the Japanese newspaper report said, without citing sources.
The new fund is expected to be formed early this month, with funds in management to exceed JPY 10tn (USD 87.5bn), and will target companies engaged in the medical business, as well, the newspaper report said.
Softbank Vision Fund plans to run the second fundraising sometime mid-this year, according to the report.