Bloomberg: Qatar considers joining SoftBank's $100B tech fund

|About: SoftBank Group ADR (SFTBY)|By:, SA News Editor

Qatar is considering putting itself into a $100B global tech fund being created by SoftBank (OTCPK:SFTBY -0.4%), Bloomberg reports.

Qatar's sovereign wealth fund may pour billions into the fund as a way to diversify out of oil. Crude-heavy Saudi Arabia is already set to be the lead partner in SoftBank's fund, and could put in up to $45B over five years.

SoftBank itself has committed at least $25B to the fund, which is tentatively called the SoftBank Vision Fund.

A plunge in oil prices has led Gulf Arab countries to look at new sources of income. And SoftBank Chairman Masayoshi Son has reportedly visited various destinations in the Gulf region to discuss investments.