Soaring losses: SoftBank reports near-total wipeout at $100-bn Vision Fund

SoftBank Team noted a close to-full wipe out in quarterly gain on Wednesday, following the

SoftBank Team noted a close to-full wipe out in quarterly gain on Wednesday, following the Japanese technological know-how investor was whiplashed for a second consecutive quarter by losses at its $a hundred billion Vision Fund.

The dire result is very likely to deepen worry about founder Masayoshi Son’s capability to protected funding for a second Vision Fund, and give additional ammunition to activist investor Elliott Administration, which has not long ago emerged as a well known shareholder.

The figures are also the latest reminder of the inherent danger in Son’s technique of betting huge on untested startups. The Vision Fund posted an functioning reduction of 225 billion yen ($two.05 billion) for Oct-December as opposed to 176 billion yen gain in the exact time period a calendar year previously. But Son, who is regarded for his ebullience and charisma said his business was presently turning the corner.