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SoftBank repeatedly ditched startups - Axios

|About: SoftBank Group Corp. (SFTBF)|By: , SA News Editor

SoftBank Vision Fund (OTCPK:SFTBF,OTCPK:SFTBY) walked away from several startup investments after submitting term sheets worth hundreds of millions of dollars, according to Axios sources.

Home care startup Honor received a SoftBank term sheet in November. The deal was reportedly worth about $150M. SoftBank said it needed some time for standard due diligence, and then abruptly pulled the deal in late December.

Similar deals died for B2B sales software startup Seismic and food prep robotics company Creator.

Sources attribute the turbulence to struggling funding for Vision Fund 2 and the failed WeWork IPO and bailout.

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