Thursday, 13 April, 2023

SoftBank sells VC unit to Singapore firm as tech market slumps

SoftBank sells VC unit amid tech slump to Singapore-based firm led by Masayoshi Son's brother. The sale is part of SoftBank's ongoing effort to raise cash and focus on its core businesses. The company is selling its venture capital arm to a new firm led by Taizo Son, the younger brother of SoftBank CEO Masayoshi Son. The move is expected to provide SoftBank with a cash infusion while also giving the VC unit a new lease on life.