SoftBank Ventures Asia hits $269m first close on global fund

SoftBank Group said in a statement that it had contributed $141 million to the vehicle. SoftBank Korea Corp, a wholly-owned subsidiary of SoftBank Group, has put in $5 million, with $119 million coming from other investors, including Korea's National Pension Service (NPS). The GP commitment is $5 million.

The fund, which is domiciled in Korea, has a lifespan of eight years, with an optional two-year extension, and an investment period of four years. A final close is expected within six months. No indication was given as to the overall target size.

Founded in 2000, SoftBank Ventures Asia claims to "plug great startups into the SoftBank Group ecosystem in order to facilitate side-by-side growth," supporting partnership and cooperation with group entities, including the $100 billion Vision Fund. It concentrates on start-ups with growth potential in Asia, the US, Israel and the EU, with an emphasis on artificial intelligence, the internet-of-things, and smart robotics.

SoftBank Ventures Asia has $1.1 billion under management across 15 funds and has invested in more than 250 companies. These include Indonesian e-commerce player Tokopedia, which it first backed in 2013 and then introduced to other SoftBank entities. Tokopedia closed a $1.1 billion round in December of last year, led by Vision Fund and Alibaba Group.

Since 2017, SoftBank Ventures Asia has launched a $120 million SB Global Champ Fund, which focuses on Korean start-ups, a $35 million Global Opportunity Private Equity Fund, and a $300 million China fund. The latter vehicle is managed in cooperation with TPG Capital's growth investment team.

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• Topics
• Venture
• Fundraising
• Technology
• North Asia
• SOFTBANK Ventures Korea
• Softbank
• TMT
• South Korea
• National Pension Service (Korea)
• SoftBank Ventures Asia