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Softbank announces $100bn fund to invest in tech firms

Softbank Group (SBG), which purchased Cambridge-based ARM Holdings back in July, has announced the launch of a global tech investment fund that could grow as large as $100bn.

The fund, tentatively named ‘Softbank Vision Fund’ could possibly become the world’s largest private equity investment vehicle.

Saudi Arabia’s top sovereign wealth fund, the Public Investment Fund (PIF) will be the lead investor; potentially contributing up to $45bn over the next five years.

According to a statement, Softbank will seek to invest at least $25m over the same time period.

“The Fund will make investments drawing upon SBG’s investment proficiency, operational expertise and breadth of experience in the technology sector,” added the statement.

Softbank in the UK

Softbank’s acquisition of ARM Holdings for an estimated £24bn was not the Japanese telecoms company’s first interaction with the UK’s technology sector.

The Tokyo-based firm invested in Yieldify alongside Google Ventures Europe, an e-commerce startup that seeks to help online retailers create personalised campaigns for consumers, in June last year.