SoftBank Group Corp has expanded its appetite for early-stage startups, with a v...
SEOUL/TOKYO - SoftBank Group Corp has expanded its appetite for early-stage startups, with a venture capital unit set to launch its biggest fund for early investments as it opens new offices in Asia.
SoftBank, South Korea’s National Pension Service as well as other companies and asset management firms will provide funding, Lee said, declining to provide further details on investors. In doing so, he harkened back to Son’s most spectacular startup jackpot - his 2000 investment of $20 million in the Chinese e-commerce firm. SoftBank’s current Alibaba stake is worth around $130 billion.
SoftBank Group and its portfolio companies also make early-stage investments. Many of these are not disclosed by SoftBank and lack of clarity on their valuations complicate investors’ efforts to quantify SoftBank’s worth, said Dan Baker, an analyst at Morningstar.
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