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SoftBank’s Vision Fund has spent over $35 billion on investments so far.
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Introduction
A large chunk of the investments went on ride-hailing. SoftBank completed a \(7.7 billion placement with Uber - including a \)1.2 billion direct investment - last month, while earlier in 2017 it agreed to invest $4.58 billion into Didi.
Other Investments
The Vision Fund has also invested in ARM, Nvidia, Flipkart, Paytm parent One97 Communication, OYO Rooms, and Improbable.
Later Stage Investors
The Vision Fund’s vast war chest has changed the game for later stage investors, with Sequoia among the firms scrambling to raise larger-than-ever funds to compete on spending power.
Conclusion
There’s plenty to be concerned about. In the case of Wag, the fund’s insistence of a minimum deal of $300 million and higher valuation are said to have seen NEA and Kleiner Perkins, who had both been keen on backing the startup, drop out of the running. Ultimately, the Vision Fund did the round by itself.
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