The recovery is largely down to rising valuations of SoftBank Vision Fund bets like Uber and Slack, which saw their share prices rally during the April to June quarter as U.S.
The SoftBank Vision Fund, which reported an $18 billion loss last year, recorded an investment gain of $2.8 billion for this quarter. .
The first Vision Fund, launched by Son in 2017, shocked the tech investment community due to its sheer size?
At $100 billion, it was several orders of magnitude larger than any other tech investment fund including those of Silicon Valley heavyweights like Sequoia and Andreessen Horowitz.
The SoftBank Group pledged to commit $38 billion to Vision Fund 2, while Apple, Microsoft and Foxconn were all touted as external contributors that would commit the extra billions.
Vision Fund 2 is up and running but only with the $38 billion from the SoftBank Group