Top SoftBank exec steps back from role at Vision Fund as pressure mounts on investments

Top SoftBank exec steps back from role at Vision Fund as pressure mounts on investments

Rajeev Misra, who runs massive tech investing unit, will step back from one of his roles, the Japanese conglomerate confirmed to CNBC on Thursday. Misra will build an external multi-asset investment fund. He will remain the CEO of SoftBank Investment Advisors, the entity responsible for the $100 billion Vision Fund, which has taken high-profile bets on companies including and Chinese ride-hailing giant DiDi. Vision Fund was founded in 2017. Misra will also remain executive vice president of SoftBank Group, the parent company. However, the executive will step down from his role as CEO of SoftBank Global Advisors, which manages the second Vision Fund, called Vision Fund 2. Instead, he will become vice chairman and take on a reduced role. Vision Fund 2 was founded in 2019. But SoftBank's investment strategy has come under heavy criticism and pressure amid a string of bad bets and a crash in technology stocks this year. One of the most high-profile issues came with coworking-space company WeWork, which after concerns were raised about its business model and corporate governance. WeWork eventually went public last year . Vision Fund posted a ($25.7 billion) for its financial year ended March 31 as technology stocks continued to get