Masayoshi Son wants to be the biggest technology investor in the world. The SoftBank Group founder, who recently appeared on the verge of retirement at 59, is now forming a new five-year fund said to be worth as much as $100 billion.
Son, who is the second-richest person in Japan,will certainly set a new precedent. To put his forthcoming fund into perspective, all venture capital funds in the world invested $129 billion in 2015, according to CB Insights—and that was a record year.
Son’s most financially successful investments include Alibaba, Yahoo, and Supercell Oy. He’s known for backing tech firms at all stages.
To pull off this feat, SoftBank is partnering with Saudi Arabia’s sovereign wealth fund. Even though the telecommunications giant is among the largest public companies in the world, it has more than $100 billion in debt.
Son’s fund is tentatively named the Softbank Vision Fund. It has not been confirmed whether it will be Son, his potential successor Nikesh Arora, or someone else calling the fund’s shots.