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SoftBank Group is looking to raise an additional $10 billion to help its first Vision Fund support portfolio companies hit by the Chinese virus pandemic, Bloomberg reported here on Thursday, citing people with knowledge of the matter. The Japanese technology conglomerate has reached out to outside investors for $5 billion in funds, which will be …
SoftBank Group is looking to raise an additional $10 billion to help its first Vision Fund support portfolio companies hit by the Chinese virus pandemic, Bloomberg reported here on Thursday, citing people with knowledge of the matter.
The Japanese technology conglomerate has reached out to outside investors for $5 billion in funds, which will be matched by another $5 billion injection by the SoftBank, the report said.
SoftBank did not immediately respond to a request for comment.
Shares of SoftBank were down more than 17 percent in mid-afternoon trading.
