Jan 15, 2021 - Economy

Jeffrey Housenbold to depart from SoftBank

Jeffrey Housenbold. Photo: Amy E. Price/Getty Images for SXSW

SoftBank managing partner Jeffrey Housenbold announced internally on Friday afternoon he will be leaving in July, the company confirmed to Axios.

Why it matters: Housenbold, who joined roughly four years ago, is one of the leaders of SoftBank's ambitious Vision Fund, leading investments in 17 companies. He is currently on the boards of companies like DoorDash, Compass, Katerra, Rappi and Memphis Meats.

  • SoftBank's $600 million stake in DoorDash has grown in value to $13.3 billion, while its $450 million investment in OpenDoor (whose board Housenbold left last month) is now worth $2.1 billion, according to a source familiar with the firm's financials.

From Rajeev Misra, CEO of SoftBank Investment Advisers/Vision Funds:

Jeff has been an exceptional investor, a trusted advisor to our companies, a strategic thought leader, and a champion of diversity and inclusion. I’d like to thank him for his many significant contributions, and I wish him all the best on his next endeavor. 

Editor's note: The story has been updated with additional information.

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