According to reports, SoftBank Group Executive Vice President, “Vision Fund” CEO Rajeev Misra (Rajeev Misra) will fade out of SoftBank to start his own business, is currently raising funds for a new fund.
Misra is the right-hand man of SoftBank founder Masayoshi Son and one of the core creators of SoftBank. The sources said Misra will resign from the SoftBank Group, retaining only his senior management position at the Vision Fund.
The sources said Misra recently met with Masayoshi Son in Tokyo and said he would leave SoftBank to pursue his own career. The sources also said Misra has secured more than $6 billion in backing for a new fund, including investors from the Middle East. In addition, Misra’s former colleague Akshay Naheta (Akshay Naheta) will join the fund.
The matter is still under discussion, and no final decision has been made on the size of the fund or the timing of its launch. Of course, the plan may eventually meet with setbacks. In this regard, a representative of SoftBank has confirmed that Misra will take a back seat.
According to an internal memo obtained by the media, Misra will continue to serve as CEO of the “Vision Fund” and become vice chairman of SoftBank’s investment arm. After Misra’s exit, his duties will be taken over by Masayoshi Son.
Misra’s exit marks the departure of the most senior executive at SoftBank’s investment arm. He was 60 years old when he joined Deutsche Bank in 1997 and SoftBank in 2014, growing the Vision Fund into one of the largest investors in Silicon Valley startups.
The Vision Fund has since been overshadowed by the dramatic shrinkage in valuations of technology startups, which led to a record loss for SoftBank in the first quarter of the year. Today, the Vision Fund is struggling to make a comeback.