Bloomberg: SoftBank tech fund preps closing with $95B committed

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

SoftBank's (SFTBY -0.4%) Vision Fund -- set up to gather $100B and become the technology sector's biggest investor -- is set to announce it has $95B in commitments and set a close as soon as next week, Bloomberg reports.

It was less than seven months ago when SoftBank announced the fund and gathered support from Saudi Arabia as a lead partner.

Other Mideast sovereign funds have considered involvement as well (Abu Dhabi, Qatar) along with tech giants like Apple and Qualcomm.

SoftBank is putting $25B of its own capital into the fund, and has agreed to spend more than $30B on tech companies itself over the past 12 months, Bloomberg says.

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