Abu Dhabi in Talks to Invest in $100-B SoftBank’s Vision Fund

Abu Dhabi in Talks to Invest in $100-B SoftBank’s Vision Fund

Abu Dhabi in Talks to Invest in $100-B SoftBank’s Vision Fund


Saudi Arabia’s Public Investment Fund is a major backer of the fund

Abu Dhabi’s sovereign wealth fund is said to be among the parties in talks to invest in Japanese telecoms group SoftBank’s (OTCMKT:SFTBY)$100-B technology fund.

The FT cited people briefed about the negotiations as confirming Abu Dhabi’s interest and said the fund could reach its target weeks ahead of schedule thanks to participation from technology firms including Apple (NASDAQ:AAPL).

SoftBank’s billionaire founder and CEO Masayoshi Son announced the launch of the Vision Fund in October after securing an up to $45-B investment over 5 years from Saudi Arabia’s Public Investment Fund.

Since then, Mr. Son has vowed to invest up to $50-B in American start-ups following a high profile meeting with US President Elect Donald Trump.

The fund’s Key focus will be on technologies focusing on AI (artificial intelligence), robots and the ‘Internet of Things’ of connected devices, sources.

US technology giant Apple has confirmed plans to invest $1-B in the fund with a company spokesperson saying it could speed up the development of technologies its considers strategically important.

 SoftBank also confirmed that Oracle (NASDAQ:ORCL) founder Larry Ellison, Qualcomm and Foxconn planned to invest in the fund.

An investment committee for the Vision Fund, which is being headed by former Deutsche Bank (NYSE:DB) and UBS debt-trader Rajeev Misra, met for the 1st time Tuesday, according to FT.

SoftBank’s recent investments include $1-B in US satellite start-up OneWeb and the $32-B acquisition of British chip designer Arm Holdings.

By Robert Anderson

Paul Ebeling, Editor

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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