Feb 8, 2021 - Economy

SoftBank Vision Fund's comeback continues

Kia Kokalitcheva

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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SoftBank Vision Fund's comeback continues

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