SoftBank Group Corp. is aiming to close the first round of investment in its planned $100 billion technology fund by the end of this month, giving Chief Executive Officer Masayoshi Son an enormous war chest to go on the hunt for deals, according to people familiar with the matter. The initial investments will likely include $45 billion from Saudi Arabia and $25 billion from SoftBank, as well as $1 billion each from Apple Inc., Qualcomm Inc. and Oracle Corp. Chairman Larry Ellison, the people said, asking not to be identified because the matter is private. Abu Dhabi investor Mubadala Development Co. may join the first round, though it could also wait until a later time, they said. The initial round is likely to exceed $80 billion and the timing of the closing may still change, said one of the people. It's not yet clear when the remainder of the planned financing would be raised.
Feb-10-2017, 07:05:03 GMT