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Softbank to set up technology investment fund www3.nhk.or.jp
Japanese telecom operator Softbank Group says it will set up a fund to invest in the global technology sector, and a Saudi Arabian sovereign wealth fund will be the leading investment partner.
Softbank says it plans to invest at least 25 billion dollars over the next 5 years in the Softbank Vision Fund, which will be managed by a subsidiary in Britain.
It says Saudi Arabia's Public Investment Fund has agreed to put in at least 45 billion dollars over the next 5 years.
Softbank says several global investors are in ongoing talks about possible participation. It says the fund has a potential size of 100 billion dollars.
Softbank Group's chairman and CEO, Masayoshi Son, says the fund will be the biggest investor in the technology sector over the next decade.
Published Date:2016-10-14
