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21

SoftBank Closes Funding For Record $93 Billion Investment Fund

By Tony Seruga

Investors include Saudi Arabia, Abu Dhabi, Apple, Sharp
Fund targets $100 billion with final close within six months

SoftBank Group Corp. and Saudi Arabia formally announced the first round of capital commitments for the largest-ever technology investment fund, as founder Masayoshi Son seeks to accelerate his financing of cutting-edge technologies and startups.

More than $93 billion has been secured from backers led by the Japanese company and Saudi Arabia’s Public Investment Fund, SoftBank said in a statement Saturday. Abu Dhabi’s Mubadala Investment Co., Apple Inc., Qualcomm Inc., Foxconn Technology Group and Sharp Corp. are also investing, and SoftBank aims to reach $100 billion with a final close within six months. Mubadala committed $15 billion, according to a separate statement…

SoftBank Closes Funding For Record $93 Billion Investment Fund

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