Japan’s Softbank is working to launch Vision Fund 2, Arab News reported, citing unnamed sources.
The Japanese group run by Masayoshi Son is expected to invest nearly $40 billion in the new fund, which will sized between $97 billion and $150 billion.
Saudi Arabia’s Public Investment Fund and the UAE’s Mubadala, who are investors in the first fund as well, will be investing in the sequel fund.
Global banks, insurance companies and pension funds are likely to join the Vision Fund 2, the report said.
The first phase of the launch is due to end “in the next few months,” with a final close around 12 months later, it added.
SoftBank launched its first Vision Fund in 2016, which has invested $64.2 billion in 71 companies generating a return of 62 percent.
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