The Vision Fund is in trouble, but SoftBank is holding its own

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It’s a heartbreaking number: the latest quarterly results from SoftBank’s Vision Fund announce losses equivalent to nearly $9.5 billion for the period from July to the end of September 2022. The parent company, despite everything, continues to grow by generating profit on the same range. This is also the first time since last year and this may have enabled Contentsquare to raise a series F to the tune of 400 million this summer, supported by the Japanese fund alongside Sixth Street Partners (Emplifi, Amplience, Bloomreach).

If the period is not looking good for the Vision Fund, it may also be because its founder has decided to distance himself from the organization. Masayosi Son prefers to devote more of his time to ARM now.. We now owe the foundry of Mac chips for two years, so that Tony Fadell, the father of the iPod, himself joined the board of directors recently. A shock team is therefore in charge of the manufacturer’s future projects, which only bodes well for our smartphones and our computers.

A high-flying portfolio

Among SoftBank’s bets with the Vision Fund, there are nevertheless real nuggets such as Revolut. The neobank is available in France and offers one of the best experiences both for managing daily purchases and for saving. It can indeed be used as a payment solution for professionals and, as an individual, set aside with “safes”. Cryptocurrencies are also part of the game with Bitcoin, Ethereum and Ripple on the menu.

Masayoshi Son

Masayoshi Son portrayed by Eui-sung Kim in WeCrashed © Apple

Another foal from the Vision Fund: Klarna. With this tool, customers can pay in installments free of charge at many online merchants such as Lacoste, Calvin Klein or even Clarks and Champion. Since its debut, the unicorn has raised $4.5 billion, including from Artic Ventures and Mindrock Capital.

Risky investments

But SoftBank has also bet on WeWork, a New York co-working giant previously run by Adam Neumann. However, its former CEO and creator, who had been able to win Son’s trust until 2020 to achieve the largest round of funding ever seen, spent lavishly to the point of being thanked by his associates. For SoftBank, this will be the start of a historic tumble. A series broadcast on Apple TV+ even recounts the debacle…

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