Softbank Vision Fund Attracts $93B From Gulf States, Apple, Others

The Softbank Vision Fund has closed its first major funding round raising more than $93 billion in capital from the Gulf states, as well as tech stalwarts Apple, Qualcomm and others. Softbank, which last fall launched the fund with backing from the Public Investment Fund of Saudi Arabia, said it has received new commitments from the Mubadala Investment Fund from the United Arab Emirates. The Softbank Vision Fund, which has targeted a $100 billion close within six months, also received commitment pledges from Foxconn and Sharp.