SoftBank Asian venture arm said to raise $270m for new early-stage fund


Seoul-based SoftBank Ventures Asia has reportedly raised $270m for a new fund focused on early-stage investments.

The fund will invest in startups located worldwide but with a focus on Asia, according to a Reuters report.

The fundraise is expected to close within the next six months, it said. The firm has already secured commitments from LPs including South Korea’s National Pension Service.

SoftBank Ventures Asia typically invests in companies operating in the artificial intelligence, internet of the things and the smart robotics sectors, according to its website.

SoftBank launched its venture arm in 2000, and has invested in companies such as global sports company PlaySight and Indonesian online marketplace platform Tokopedia.

In March the Japanese company announced the launch of a $5bn technology growth fund focused on Latin America.

It was widely reported earlier this year that SoftBank was in talks to raise an additional $15bn for its $100bn, Saudi-backed Vision fund.

The investment major recently led a $231m Series D round for Brazilian digital secured lending platform Creditas.

Copyright © 2019 AltAssets