TOKYO (Reuters) -Japan’s SoftBank Group Corp is considering launching a third Vision Fund, likely using its own capital, and will decide on the matter in the coming months, the Wall Street Journal newspaper reported on Wednesday, citing unnamed sources.
The size of a new fund could not be determined, the report said, and SoftBank may put additional money into Vision Fund 2 instead. A new fund would be a way to reset employee compensation, the paper said.
SoftBank Chief Executive Masayoshi Son last month said he would restructure the Vision Fund investment arm after it reported a $50 billion loss in the six months through June, as the value of its portfolio slid.
The tech conglomerate has radically scaled back investment activity and sold key assets, including shares in e-commerce giant Alibaba, with executives targeting an initial public offering of chip designer Arm to raise further cash.
(Reporting by Sam Nussey; editing by Jason Neely and Bernadette Baum)
