SoftBank’s tech fund has raised $95 billion: Report

on May9

The logo of Japanese mobile provider SoftBank is displayed at an entrance of a shop in Tokyo's shopping district Ginza on February 8, 2017.

Kazuhiro Nogi | AFP | Getty Images

The logo of Japanese mobile provider SoftBank is displayed at an entrance of a shop in Tokyo’s shopping district Ginza on February 8, 2017.

SoftBank is close to announcing that its technology fund has raised $95 billion, according to a Bloomberg report, citing people familiar with the matter.

The announcement will be as soon as next week. Companies like Apple and Qualcomm have previously said that they’re investing money.

Softbank will contribute $25 billion of its own capital to the fund over the next five years. The Abu Dhabi based Mubadala Development Company is also expected to commit as much as $15 billion, people familiar with the matter told Bloomberg.

SoftBank has agreed to spend more than $30 billion on technology companies itself in the last 12 months, according to data compiled by Bloomberg.

Read the entire Bloomberg report.



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