SoftBank chief Masayoshi Son announced Thursday that he is preparing to establish a second Vision Fund. The first version of the investment fund was backed by Saudi Arabia and poured billions into companies like Uber, WeWork and Slack.
"This is the first time that we are officially announcing that we are preparing for the establishment of SoftBank Vision Fund 2," Son said at the company's earnings presentation.
The size and structuring of the new fund hasn't been decided yet, he said, but "roughly speaking we'd like a similar size to Vision Fund 1."
Son said many current Vision Fund investors are interested in taking part. Nearly half the money for that fund came from the Saudi government.
More to come.
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