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SoftBank to raise $100 billion fund every 2-3 years - Bloomberg

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SoftBank to raise $100 billion fund every 2-3 years - Bloomberg
FILE PHOTO: SoftBank Group Corp Chairman and CEO Masayoshi Son speaks during the Wall Street Journal CEO Conference in Tokyo, Japan May 15, 2018. REUTERS/Toru Hanai   -   Copyright  TORU HANAI(Reuters)
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TOKYO (Reuters) – SoftBank Group Corp <9984.T> plans to create a new $100 billion (£76 billion) fund every two to three years, its Chief Executive Masayoshi Son told Bloomberg Businessweek in an interview published on Thursday.

Son has attracted more than $93 billion to his Vision Fund technology investment vehicle, and has flagged his intention to raise further financing.

Son plans to spend around $50 billion annually, he told Bloomberg. The Vision Fund has made investments in technology companies including ride-hailing firm Uber Technologies Inc and shared-office space firm WeWork.

(Reporting by Sam Nussey; Editing by Muralikumar Anantharaman)

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