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Venture Capital · Profile from Venture Capital Research Companion

SoftBank Vision Fund (SoftBank Group Corp.)

Masayoshi Son's investment machine. It turned a $20m bet on Alibaba (2000) into the most profitable venture investment ever recorded, then used that fortune and Gulf sovereign money to build the ~$100bn Vision Fund (2017), which redefined late-stage venture through "capital as a weapon" (Uber, DoorDash, Coupang, ByteDance). It also produced spectacular failures (WeWork, Greensill, Katerra) and, from 2025, concentrated SoftBank's balance sheet on OpenAI.

At a glance

Founded
SoftBank: September 1981, Tokyo, as a PC-software distributor. SoftBank Vision Fund 1: announced October 2016, first close May 2017. Vision Fund 2: 2019
Founders
Masayoshi Son (founder, chairman and CEO of SoftBank Group). Vision Fund architect Rajeev Misra (ex-Deutsche Bank) with Son
Headquarters
SoftBank Group: Tokyo (Minato-ku). The Vision Funds are advised by SoftBank Investment Advisers (SBIA), headquartered in London with offices in San Mateo/San Carlos, Tokyo, Shanghai, Singapore and elsewhere
Ownership / structure
SoftBank Group Corp. is listed on the Tokyo Stock Exchange (9984), and Son is the largest shareholder (~30%, reported). SVF1 is a Jersey/UK-structured limited partnership with external LPs (PIF, Mubadala, Apple, Qualcomm, Foxconn, Sharp and others). SVF2 is funded almost entirely by SoftBank, with Son holding a personal economic interest (reported). There is also a separate Latin America Fund
Leadership (2026)
Masayoshi Son (chairman and CEO, SoftBank Group). Alex Clavel, sole CEO of SBIA and SoftBank Global Advisers since Rajeev Misra's exit in November 2024. Yoshimitsu Goto (SBG CFO)
AUM / capital raised
SVF1: $98.6bn committed. SVF2: ~$50bn+ (mostly SoftBank capital; reported). LatAm Fund: ~$5–8bn (reported). Cumulative OpenAI commitment: ~$64.6bn for ~13% (reported, 2026)
Stage focus
Late-stage growth "mega-rounds" ($100m–$10bn+), with some earlier-stage investments in SVF2. SoftBank's earlier venture activity (1995–2015) ranged from early stage (Yahoo, Alibaba) to growth (Coupang, Didi, Ola, Paytm)
Signature investments
Yahoo (1995–96), Alibaba (2000), Supercell (2013), Arm (acquisition, 2016), Nvidia (2017 public stake), Uber, DoorDash, Coupang, ByteDance, Didi, Paytm, OYO, Grab, Klarna, OpenAI. Failures: WeWork, Greensill, Katerra, Wag, Zume, Brandless, Wirecard (2019 convertible), Fair, View

10 deals and moves analysed

Each one gets a full strategy file in the companion: context, the decision, the financing, what happened, and the lesson.

  1. 1995

    Yahoo

    Early Investment and Yahoo Japan JV

  2. 2000

    Alibaba

    Early Venture Round

  3. 2015

    Coupang

    Growth Investment

  4. 2017

    WeWork

    Growth Mega-Round

  5. 2018

    ByteDance

    Late-Stage Growth

  6. 2018

    DoorDash

    Series D

  7. 2018

    Katerra

    Series E

  8. 2018

    Uber

    Primary and Tender Offer

  9. 2019

    Greensill

    Growth Investment

  10. 2024

    OpenAI

    Growth and Mega-Round