SoftBank’s Biggest Backer May Pull Out Of Vision Fund 2

SoftBank’s Vision Fund 2 is now under the cloud due to Fund 1’s performance, While it had set sight for IPOs of its major investments Uber, Wag, Slack and WeWork — the Masayoshi Son-led firm had a major setback in terms of these plans.

While Uber, Wag and Slack had disastrous public listings, the biggest smackdown for SoftBank came with WeWork’s failed public listing.

This seeks significance as SoftBank had launched its $108 Bn second vision fund in 2019 as well and was in the market to raise funds. However, with the drama that ensued over the last few months, the company’s biggest backer — Saudi Arabia’s Public Investment Fund (PIF) — has reportedly suspended plans to invest in the new fund for now.

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