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SoftBank's Vision Fund posts $1.7 bn loss in Sep quarter
November 10, 2023
|Mint Mumbai
SoftBank Group Corp.'s flagship Vision Fund reported another loss on the decline in valuations at WeWork Inc. and other portfolio companies, on top of foreign exchange losses that could hurt Masayoshi Son's pursuit of new startup deals.
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The Vision Fund segment reported a loss of Y258.9 billion ($1.7 billion) through the end of September, after it wrote down the WeWork stocks and warrants held by the Vision Funds, ahead of the company's bankruptcy filing this week. Valuation declines in portfolio firms such as Sensetime Group Inc., AutoStore Holdings Ltd and Symbotic LLC. further hurt the segment.
هذه القصة من طبعة November 10, 2023 من Mint Mumbai.
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