Japanese holding company SoftBank will provide up to $20 billion to its employees could invest in the second investment Fund Vision Fund, the launch of which was announced in July. About it writes The Wall Street Journal, citing informed sources. Vision Fund representatives did not comment on this information.
According to some interlocutors of WSJ, the founder of SoftBank billionaire Masayoshi Sleep can provide half of the amount that the company is going to allocate to employees. The rush is explained by the desire SoftBank to complete the creation of the Fund in volatile markets.
At the same time, the Financial Times reports that on behalf of their employees SoftBank is going to invest only $15 billion, the Sources also noted that a significant part of workers ‘ contributions to Finance personal Dream.
Previously, the Dream said that the company expects to attract $108 billion in its new investment Fund Vision Fund 2. According to the release, among the Fund investors will be Apple, Microsoft, Foxconn and the national investment Corporation of National Bank of Kazakhstan. He SoftBank planned to invest in Vision Fund 2 only $38 billion
Thus, $20 billion purchase of Fund shares is the fifth part of the total capital that the company intends to attract in the new Fund. The WSJ says that the SoftBank employs about 400 people. According to sources, the company practiced lending to employees in the first Fund. The heads of SoftBank considered that this approach will make employees more responsible, because they may lose their shares in the event of dismissal or if you commit a foolish deal, say informed sources.
Industry experts said the FT that the Fund managers are entrepreneurs often invest their own funds on behalf of other employees, however, typically, the amount of such investments does not exceed 5% of the total volume of attracted funds. The publication says that the Japanese company is trying to convince sovereign wealth funds of Saudi Arabia and Abu Dhabi to invest tens of billions of dollars beyond what has already been promised to the investors mentioned. “It all comes down to Saudi Arabia,” — said one of interlocutors of the newspaper.
As the Financial Times, the first Vision Fund has become the largest private equity Fund in history. According to experts, if the Vision Fund 2 reaches the target in attracting investments, it will update the record and allow SoftBank to gain access to advanced technologies in the field of artificial intelligence, but also to a huge data flow, which will help him to affect a number of industries without the need for SoftBank to manage the companies.
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