Japanese conglomerate, SoftBank is reportedly planning to launch an initial public offering of its $100 billion SoftBank Vision Fund.
According to Reuters, SoftBank is in touch with five to six banks about the potential listing of the fund. However, no formal declaration has been made yet and is neither expected in the near term. “They asked banks questions on how they could possibly do it. It is still very much in exploration mode,” the source said.
The idea reportedly came to SoftBank from fellow tech investor Naspers, which has some of its assets listed. “The big difference is that the biggest asset in the Naspers portfolio is Tencent, which is listed, whereas the portfolio of the Vision Fund is all private,” the source told Reuters.
SoftBank, which has raised most of its fund for the Vision fund from Saudi Arabia and Abu Dhabi (according to a report in WSJ) is also in talks with Oman for further infusion of capital.
The vison fund, which was set up in 2017, is the world’s largest technology investment fund and has around $10 billion invested in India. Some of SoftBank’s prominent investments in India are Ola, OYO, Hike, Paytm and Paytm Mall.
SoftBank is also reportedly looking to invest around $2 billion to $3 billion in Mukesh Ambani led Reliance Jio through the $100 billion Vision Fund.
SoftBank’s interest in Reliance Industries is in line with its investments in telecom, ecommerce and technology platforms in India.