The Financial Times has found that Japanese tech giant SoftBank is creating an “operating group” within its Vision Fund.
The group will include more than 30 execs who will help prepare startups to float on the stock exchange.
The Vision Fund is worth over $100bn and was set up by SoftBank in 2017.
The operating group is headed up by Operating Partner Gerry Lopez and is expected to be 70 strong by the end of the year.
What does this mean?
Softbank’s Vision Fund is the largest FinTech fund in the world, having supported ride-hailing giant Uber to its current valuation of $82bn. Earlier this year it poured £662mn ($800mn) into UK green finance company, Greensill.