Softbank to Lend Employees Up to $20 Billion for Fund, WSJ Says

Softbank Group Corp. is planning to lend as much as $20 billion to its employees to buy stakes in its second venture capital fund following the success of an earlier $100 billion fund to invest in tech startups, the Wall Street Journal reported. The second Vision Fund aims to raise $108 billion, Softbank said earlier. In addition to its employees, it’s also expected to collect money from Apple Inc., Microsoft Corp., Foxconn Technology Group and the sovereign wealth fund of Kazakhstan. It’s also won support from Japanese financial institutions, with seven identified as signing memorandums of understanding to participate. Source: https://www.bloomberg.com/news/articles/2019-08-17/softbank-to-lend-employees-up-to-20-billion-for-fund-wsj-says?srnd=premium-europe

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