The world's largest private equity fund, backed by Japan's Softbank Group and Saudi Arabia, raised over $93 billion to invest in technology. Fred Katayama reports.
The world's largest private equity fund, SoftBank Vision Fund, raised $93 billion. It will invest the money in technology, including artificial intelligence and robotics. The biggest capital injections came from SoftBank, Saudi Arabia, and companies such as Apple and Qualcomm. But the fund is still looking for contributors. It aims to amass $100 billion in the next six months. It will invest the money in public and private companies, from emerging businesses to established, multi-billion-dollar firms. The fund timed the $93 billion mark announcement for President Donald Trump's visit to Riyadh where U.S. and Saudi companies signed business deals.