Japan’s SoftBank to prioritize tech investments, says CEO

Japanese SoftBank Group Corp is planning to step up its "unicorn hunting" investment strategy around the world, as part of a major shift in focus at the Japanese tech and telecoms conglomerate, Reuters reported on Wednesday, citing Masayoshi Son, SoftBank’s chief executive. 

“I have spent 97 percent of my time on managing the telecoms business and only 3 percent on investing,” Son said. Reversing that balance will allow SoftBank to grow faster, Son said.

This came in line with SoftBank’s ongoing transformation from a domestic telecoms firm to “unicorn hunter” - as Son termed it - focusing on late-stage startups worldwide.

The conglomerate — which owns Japan’s third-largest telecoms operator — has emerged in recent years as one of the world’s largest tech investors, acquiring stakes in companies including Chinese e-commerce giant Alibaba, and UK chipmaker ARM Holdings.

Last year, it launched the $100 billion Vision Fund, boosted by a $45 billion investment from Saudi Arabia’s Public Investment Fund, Argaam reported.

The Vision Fund has invested in disruptive firms, especially those in the technology space, such as shared-office space firm WeWork and ride-hailing rivals Uber Technologies Inc, Didi Chuxing, Ola and Grab.