PB: SoftBank goes it alone on Vision Fund 2 as portfolio profits leap

PITCHBOOK reports:

SoftBank CEO Masayoshi Son seems to have a message for detractors: His strategy of backing billion-dollar startups is working, and the firm is happy to bankroll future investments on its own.

SoftBank has raised the size of Vision Fund 2 to $30 billion, up from $20 billion, and plans to continue self-funding the vehicle. The decision came Wednesday along with the company’s report of a net profit of 5 trillion yen ($46 billion) for the fiscal year ended March 31, ...