Softbank to pump another $15 billion just for technology based startups

Sachin Bansal might open his own bank to explore a fintech idea

There is a story we keep repeating here at ReviewTech and it is about Softbank’s founder Masayoshi Son. The story is about his college days when he decided to not waste time as everybody did in his college and just work and think for five minutes every single day. He did that successfully and managed to earn $3 million in his first year. With that money, he founded Softbank, a bank of software. There are multiple stories of this man who has transformed the way people look at investments.

Son is someone who believes in the singularity concept, a concept which amuses a lot of people. He believes in robot taking over the world one day and he also talks about money, of course. There was a time when this man was bankrupt and had absolutely no money. He rose from the ruins but not like a phoenix, only better though. He launched Vodafone in Japan and got back on his feet. And a couple of years before, he launched vision fund, a mammoth $100 billion fund only for startups and companies with a bright future.

The Japanese man has hardly made a bad call in his entire career. He was one of the first investors in Alibaba and when asked about the man behind Alibaba, he said that Jack Ma had no business plan but there was something in his eyes that made invest. This tells us how spiritually enhanced a man can be. He is just born to do the job.

That being said, the company he has built is raising another $15 billion just for the technological startups. The company has invested more than 70% of the $100 billion funds raised. This is absolutely amazing, to say the least. The company has been powered by some serious talent and the next $15 billion are going to be raised only for technologically advanced and aimed startups.

The company has always known different ways to pump up cash from various sources. The fact that Son managed to convince Saudi Arabia prince to invest $45 billion in 45 minutes is just amazing. The middle eastern partners are always going to be there but the relationship must have hit a wall as the company is not looking to go to the Middle East this time around.

However, the cash is going to be present to invest as the company is going to look at firms with technological aim and shoot cash at them. People with such startups should just jump at this opportunity.

Comment here