SoftBank Vision Fund yearly loss widens to $32B on startups valuation cut

Variety
11-05-2023 | 06:29
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SoftBank Vision Fund yearly loss widens to $32B on startups valuation cut
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SoftBank Vision Fund yearly loss widens to $32B on startups valuation cut

SoftBank Vision Fund lost $32 billion in the financial year ending March as the Japanese investment giant, the most prolific global investor in tech startups, continues to suffer from valuation corrections across its portfolio of private and public tech companies amid a weakening global economy.

The loss surged about 70 percent from the same period a year prior, when SoftBank had reported $19 billion in losses at the Vision Fund unit. The losses come even as SoftBank has grown very cautious about deploying new capital to startups in recent quarters.

Among the losses, the Japanese conglomerate said its Vision Fund 1 made an unrealized loss of $1.6 billion each in SenseTime Group and GoTo and nearly $800 million in DoorDash.
 

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