The Fund established by Softbank and PIF for investments in advanced technology, able to attract 93 billion

Japanese company Softbank and investment Fund PIF from Saudi Arabia managed to attract more than 93 billion dollars that will be invested in promising areas of technology, including artificial intelligence and robots.

In a statement, Softbank Fund Vision Fund said that «a new stage of the information revolution», and building businesses that can make it possible would require «unprecedentedly large and long-term investment.»

The head of Softbank spoke about the intention to create a Fund in October last year. Since that time, to participate in the Fund managed to attract many large companies.

In addition, the company Softbank, which has allocated $ 28 billion, and PIF ($45 billion), the list of participants of the Fund include the Mubadala Investment company (15 billion dollars), Apple, Qualcomm, Foxconn and Sharp.

Besides the already mentioned areas, the Fund expects to buy shares in promising companies operating in other sectors, including mobile computing and communication infrastructure.

Fundraising will continue for another six months. During this period, the creators of the Fund hope to achieve this goal is to collect $ 100 billion.

Source: Reuters


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