TOKYO, June 4 — Japanese tech giant SoftBank Group said today it was setting up a US$100-million (RM428 million) fund for black entrepreneurs, the latest firm aiming to burnish diversity credentials amid US protests over racial injustice. The Opportunity Growth Fund “will only invest in...
The Opportunity Growth Fund ‘will only invest in companies led by founders and entrepreneurs of colour,’ said the firm’s executive vice-president Marcelo Claure. — Reuters pic
The Opportunity Growth Fund “will only invest in companies led by founders and entrepreneurs of colour,” said the firm’s executive vice-president Marcelo Claure in an internal letter obtained by AFP. Originally set up as a telecoms company, SoftBank Group has become an investment and tech behemoth with stakes in some of Silicon Valley’s hottest start-ups through its US$100-billion Vision Fund.
Adding to Softbank Group’s woes, Chinese tycoon and Alibaba co-founder Jack Ma will also be resigning as a director of the board this month.
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