You are currently viewing SoftBank's Vision Funds Report Historic $27 Billion Loss

SoftBank's Vision Funds Report Historic $27 Billion Loss

While the unraveling of ARK (and its flagship fund ARKK in particular) have come to epitomize the unraveling of the pandemic-era tech boom, Cathie Wood and company are rank amatures compared with Masa Son and SoftBank, who have seen their portfolio of rising tech firms hammered by the trifecta of global economic contagion: Rising rates in the US, China’s COVID-inspired lockdowns (and before that, Beijing’s crackdown on Chinese tech) and the fighting in Ukraine (and the inflationary hellscape that rising oil and food prices have unleashed).

We noted back in March that SoftBank’s portfolio had seen $25 billion evaporate. Since then, the bleeding has only worsened.

To wit, SoftBank’s two Vision Funds have posted historic investment losses of ¥3.5 trillion ($27.5 billion) over the 12 months to March 31 as the funds’ biggest holdings were pummeled by rising interest rates and Beijing’s crackdown on the tech sector.

..... (Read more by following the post link below)

This post was originally published on this site