SoftBank Group Corp plans to create a new $100 billion fund every two to three years and spend $50 billion annually, its Chief Executive, Masayoshi Son announced on Thursday.
Son has attracted more than $93 billion to his Vision Fund technology investment vehicle and has signalled his intention to raise further financing.
The comments reflect Son’s deal-making ambitions that have shaken up the world of venture capital investing as he looks to accelerate his vision of a future driven by artificial intelligence.
SoftBank did not immediately comment.
The Vision Fund’s largest investments to date are in companies including ride-hailing firm Uber Technologies Inc and shared-office space firm WeWork.
Son’s comments on the pace of the raising of new funds echo similar comments he made to the Nikkei business daily last year.
He had told the publication that within 10 years more than 1,000 companies would have received investment. (Reuters/NAN)
