Japanese mobile carrier SoftBank said Friday it hoped to raise as much as $100 billion for a new technology investment fund it has set up in partnership with Saudi Arabia.
SoftBank Group Corp. said it is planning to invest in the technology sector through a fund that the Japanese internet and telecommunications conglomerate aims to make among the largest of its kind in the world.
TOKYO (AP) — Japanese telecommunications and internet company Softbank Group Corp. is setting up a $25 billion private fund for technology investments that has the potential of growing to $100 billion.
The fund, worth possibly $100 billion, would seek out promising technology companies worldwide.
The revelation that Softbank is planning a $100 billion tech fund with the Saudi Arabian government is a big announcement in and of itself. It will be one of the biggest tech investment funds in existence.