Feb 8, 2021 - Economy & Business

SoftBank Vision Fund's comeback continues

Illustration of Masayoshi Son in a money jacket
SoftBank CEO Masayoshi Son. Illustration: Eniola Odetunde/Axios

SoftBank's Vision Fund arm posted $12.8 billion in gains (and $8 billion net profit) from its investments for the Oct.-Dec. quarter, mainly driven by its stakes in Uber and DoorDash. SoftBank Group itself posted a $11.1 billion net profit.

Why it matters: The record performance since Vision Fund's debut in 2017 comes just a year after its absolute worst.

  • In a presentation to analysts on Monday, SoftBank chairman Masayoshi Son described the company as a goose that produces golden eggs, and touted expectations that several more portfolio companies will go public soon.

Yes, but: SoftBank's recent experiment with public equities has netted losses so far, and the company's large exposure to Alibaba could be problematic if the Chinese online retail giant's regulatory troubles continue.

  • And its second Vision Fund remains without outside investors.

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