SoftBank and Saudi Arabia Partner to Form Giant Investment Fund

SoftBank of Japan has already earned a reputation as one of the most ambitious technology companies around, unafraid to strike huge deals.

Now the conglomerate is aiming to become one of the world’s biggest investors in tech — potentially with the help of Saudi Arabia.

SoftBank announced on Thursday that it would form a new investment fund that could invest up to $100 billion in technology companies worldwide.

SoftBank will invest at least $25 billion into what’s provisionally called the SoftBank Vision Fund over the next five years, while Saudi Arabia is weighing putting in at least $45 billion. They may draw in other partners who could eventually push the fund’s size to its maximum.

It is an ambitious effort by SoftBank and its billionaire founder, Masayoshi Son, to expand the company’s footprint worldwide. The Japanese company, best known for its ownership of a telecommunications network in its home country and Sprint in the United States, has also made investments and acquisitions around the world. Read More…