SoftBank raises $270 million by the Seoul unit of the early-stage investment

FILE PHOTO: The logo of SoftBank Group, Corp, is displayed at the SoftBank World in 2017 conference to be held in Tokyo, Japan, on July 20, 2017. (REUTERS photo/Issei Kato/File Photo

TOKYO (Reuters) – SoftBank Group Corp, said on Friday that the Seoul-based venture-capital unit focused on early-stage investments, has raised a 317 billion won ($270 million) fund.

SoftBank Ventures in Asia, the fund will invest in early-stage startups worldwide, with a particular focus on Asia, and the new tech conglomerate said.

It is a new fund, the purpose of which is to close in the next six months, with investors including South Korea’s National Pension Service, which reflects a renewed interest by SoftBank in early-stage investing.

As they turned, it is the Saudi-backed, $100 billion for the Vision Fund, ascends to the investment scene in a late-stage start-ups, as the group’s Chief Operating Officer Marcelo Claure, in March launched a $5 billion, and Latin America-focused investment fund.

Previous investments made by SoftBank Ventures, and Asia pacific, which was established in 2000, before the contract was extended earlier this year, South Korean gaming company Nexon Co., which made its market debut in Japan in 2011, the Indonesian e-commerce firm Tokopedia.

Report by Sam Nussey; Additional reporting by Chris Gallagher; Editing by Muralikumar Anantharaman and Sherry Jacob-Phillips

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