SoftBank Vision Fund manager defends investment record – The National

SoftBank Vision Fund manager defends investment record – The National

SoftBank Vision Fund manager defends investment record. The head of the unit that manages SoftBank's Vision Fund defended its investment record on the day that its parent company reported a 92 per cent fall in profit due to write downs on some of the deals it has done.. Mr Misra said that its revenue had grown from $7 billion (Dh25.7bn) when SoftBank first invested in 2018 to $16bn last year and an expected $30bn this year based on its current run rate.. The platform was lossmaking but expects to achieve earnings before interest, tax, depreciation and amortisation of $8bn this year.. "The public companies that we have invested in are up roughly $4.5bn (Dh16.5bn)," Mr Misra said, adding that its stake in Uber had gained $2.5bn in value since the start of this year.. It made its first investment in May 2017 and has backed a series of high-profile technology firms including ride-sharing platforms Uber, Grab and Didi Chuxing, chipmaker ARM, business network Slack and property firm WeWork, among others.. It reported a 92 per cent fall in net profit to 55bn Japanese yen (Dh1.84bn) for the three months to December 31 on Wednesday as it reported unrealised losses of