SoftBank Seeks $10 Billion to Support Vision Fund Companies

SoftBank Group Corp. is seeking to raise an additional $10 billion so its first Vision Fund can support portfolio companies battered by the coronavirus pandemic, according to people with knowledge of the matter.

SoftBank is in talks with outside investors to provide $5 billion, which will be matched by a $5 billion contribution from the Japanese conglomerate, said the people, who requested anonymity because the talks are private. SoftBank may be unable to secure sufficient commitments from investors, in part because Middle Eastern sovereign wealth funds have been rocked by the steep decline in the price of oil.