SoftBank Group is leaning on its employees, including Chief Executive Masayoshi Son, for cash as the firm rushes to raise an ambitious technology fund amid volatile markets. The Japanese company plans to lend up to $20 billion to its employees to buy stakes in its second giant venture-capital fund, people familiar with the matter said. Mr. Son may account for as much as $15 billion of that amount, some of the people said. It...
SoftBank Group aims to duplicate its $100bn Vision Fund by raising up to $20bn from its roughly 400 employees, offering loans with around 5% interest for a second, AI-focused fund, according to anonymous insiders. CEO Masayoshi Son is set to contribute $38bn, alongside SoftBank's $15bn, while non-binding deals worth $108bn have been made with the likes of Microsoft, Apple and the Kazakhstan government. Analysts noted the fund's bigger-than-usual investment by SoftBank, as well as the increasingly challenging start-up economy.