Apple and Microsoft are both investing in SoftBank's newest $108 billion mega-fund for startups

REUTERS/Kim Kyung-Hoon

SoftBank Group Corp. Chairman and CEO Masayoshi Son smiles during an earnings briefing in Tokyo, Japan, July 28, 2016.

• One day after reports circulated about Microsoft's involvement in SoftBank's newest venture fund, the Japanese telecom giant confirmed it raised $108 billion for Vision Fund II.
• SoftBank's second venture fund is backed by returning investors from its first fund, including Apple, Foxconn, in addition to new banking partners.
• Previous reports found that SoftBank was negotiating a deal with Microsoft that included promoting its cloud service Azure over Amazon's Web Services for its portfolio.
• Visit Business Insider's homepage for more stories.

SoftBank has closed $108 billion for its second Vision Fund - a mega-sized fund that the Japanese giant intends to invest in startups.

Confirming previous reports, the Japanese telecom giant's Vision Fund II counts Apple, Foxconn, and Microsoft as backers from the tech industry, in addition to several international banking partners.

Complimentary Tech Event

Transform talent with learning that works

Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More

SoftBank's first Vision Fund backed some of the biggest names in tech, including Uber, Slack, and soon-to-be-public WeWork. Japanese billionaire Masayoshi Son personally led the $100 billion first fund since its launch in 2017.

According to the release, Mizuho Bank, Sumitomo Mitsui, MUFG Bank, Dai-ichi, Sumitomo Mitsui Trust, SMBC Nikko, Daiwa, National Investment Corporation of National Bank of Kazakhstan, and Standard Chartered Bank are among the banking partners expected to back this new fund.

Read More: SoftBank wants Microsoft to invest in its next VisionFund, and it offered to encourage its startups to ditch Amazon's cloud for Azure

SoftBank itself will also commit $38 billion to the second fund, less than the expected $40 billion that was previously expected.

Goldman Sachs and Public Investment Fund of Saudi Arabia, a sovereign wealth fund, were both backers of SoftBank's first Vision Fund, but were not listed as confirmed backers for Vision Fund II. However, the release only includes companies that have signed on to the fund, and does not exclude others from joining the fund at a later date.

Previous reports indicated that SoftBank was negotiating a deal with Microsoft that included promoting its cloud service Azure over Amazon's Web Services for its portfolio. It's not clear if the finalized deal includes such a provision.

Get the latest Microsoft stock price here.