Diabytes
Softbank vision fund News
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Saudi Arabia`s Vision 2030 reform plan, which aims to reduce the country`s economic dependence on oil, was a good match for the fund`s long-term vision for innovation.
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The fund is likely to be a so-called cornerstone investor in ZhongAn`s up to $1.5 billion IPO.
The deal comes just 10 days after SoftBank`s attempts to forge a deal between Flipkart and smaller rival Snapdeal - and thwart Amazon`s ambitions in India - fell apart following months of negotiations.
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SoftBank Vision Fund, founded by SoftBank Group Chairman Masayoshi Son, operates as a separate entity. It also has participants like Apple, Foxconn and Public Investment Fund of the Kingdom of Saudi Arabia.
Japanese conglomerate Softbank on Friday announced induction of India-born Rajeev Misra on its board of directors.
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