SoftBank Group Corp is in discussions with potential investors in the Middle East and Canada to raise $7 billion of additional capital for its Vision technology fund, according to Bloomberg.
The Japanese firm is in talks with Kuwaiti and Qatari sovereign wealth funds, Canadian pension funds and technology companies, people familiar with the matter said, asking not to be identified as the discussions are ongoing.
Representatives for SoftBank and the Kuwaiti and Qatari wealth funds declined to comment.
SoftBank and Saudi Arabia formally announced the first round of capital commitments for the largest-ever technology investment fund last month. Abu Dhabi’s Mubadala Investment Company is also investing.
In May, SoftBank invested $5 billion in Chinese ride-hailing giant Didi Chuxing and put $1.4 billion into digital payments startup Paytm, the largest-ever funding round from a single investor in India’s technology sector.
SoftBank also amassed a $4 billion stake in Nvidia Corp, making it the fourth-largest shareholder in the graphics chipmaker, people familiar with the matter have said.
