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Q3 Results For SoftBank’s Vision Fund Show a $3.6 Billion Gain

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Q3 Results For SoftBank's Vision Fund Show a $3.6 Billion Gain

(CTN News) – It has been reported that the SoftBank Vision Fund recorded a gain of US$3.6 billion in the December quarter, after having been in the red during the first half of 2023.

The amount that Vision Fund 1 made out of this amount was US$1.9 billion, while the amount that Vision Fund 2 made was US$1.7 billion.

In total, both funds sold investments worth US$19.5 billion in the period under review. Of the portfolio companies that were sold as part of this process, 13 were fully exited.

A good example of an exit is chip designer Arm, which went public in 2023, which was one of the exits. It was reported by Arm that the company recorded US$2.1 billion in net sales for the nine months ending December 2023, an increase of 13% on the previous year.

In light of these numbers, Vision Fund’s parent company SoftBank Group reported a net income of US$6.3 billion during the December quarter, a significant turnaround from the US$5.2 billion loss it had experienced during the same period in 2022. On March 31st, the end of the company’s financial year will be announced.

In contrast to Vision Fund 1, which has investments in companies like ByteDance, DiDi, GoTo, and Grab, Vision Fund 2 has made bets on Carro, Cars24, and Flipkart.

Besides Arm’s listing, another highlight of the quarter was SoftBank’s receipt of 48.8 million T-Mobile US shares in December, which was one of the biggest transactions of the quarter. In this case, the windfall came as a result of T-Mobile US’ merger with the SoftBank-owned telco Sprint, which came at no extra cost to T-Mobile US.

In addition, SoftBank also changed its strategy by focusing on an AI-centric portfolio following the sale of most of its stake in Chinese e-commerce giant Alibaba earlier this year.

On the heels of the bullish results, SoftBank’s share price in Tokyo rose by 11% to 7,350 yen (US$49.41) as a result of the bullish results.

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