By innovation-sa on October 30, 2017 in News
SoftBank Vision Fund(SBVF), backed by Japan’s SoftBank Group, claimed a return of $3 billion during its first five months of collaboration with Saudi Arabia’s Public Investment Fund (PIF). PIF earlier committed to invest up to $45 billion in SBVF over the next five years, in an effort to diversify the Kingdom’s portfolio beyond oil assets.
Masayoshi Son, the ambitious founder and CEO of Japan’s SoftBank group as well as the leading associate of PIF, said the Vision Fund launched roughly 15 investments in its initial months.
Son urged investors attending the Future Investment Initiative in Riyadh to focus on investing in hi- technology sector. He outlined the scope of technology sector in near future when robotics and artificial intelligence will revolutionize the business and commercial sectors.