SoftBank plans to double the size of the business unit managing its massive Vision Fund, going from 400 people up to 800
- SoftBank's Vision Fund is known for infusing massive amounts of cash into startups like Uber and WeWork to help excellerate growth.
- But the investment fund has growth plans of its own, according to one executive's remarks during the Milken Institue Global Conference on Monday.
- Rajeev Misra, the CEO behind the SoftBank Vision Fund, said the investment unit plans to double in size from 400 people to 800 people in the next 18 months.
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BEVERLY HILLS- SoftBank's Vision Fund is known for injecting millions (or billions) of dollars in capital into startups to help them supercharge growth.
It turns out, the fund has plans for some mega-growth of its own.
On stage at the Milken Institute Global Conference on Monday, the CEO of SoftBank Investment Advisors Rajeev Misra said he has plans to double the size of the investment arm from 400 employees to 800 employees over the next 18 months - dramatically increasing the size of the team managing the Vision Fund.
Misra's remarks came during an on-stage conversation with chairman Michael Milken. The growth comes just as the Vision Fund is set to see big returns on at least two of its portfolio companies. Uber launched its roadshow this week for an IPO that could value that company upwards of $90 billion. WeWork, another portfolio company, announced Monday that it confidentially filed to go public back in December.
The Vision Fund is a $100 billion investment fund launched at the end of 2016. The company will start raising its second fund in the next few months, Misra said.