The decline in valuations and foreign exchange losses may hinder the pursuit of new startup deals.
SoftBank Group’s flagship Vision Fund invested over US$140 billion in hundreds of loss-making startups worldwide.
Valuation declines in portfolio firms such as Sensetime Group Inc, AutoStore Holdings Ltd and Symbotic LLC further hurt the segment. “It’s hard to be optimistic, as there’s a bit of uncertainty over how things will develop in the near term,” said Tomoaki Kawasaki, a senior analyst at Iwai Cosmo Securities Co. “But attention is now on how and whether SoftBank’s investments in AI-related firms will boost shareholder value and net asset value.”
Founder Son has made a series of bets this year on autonomous technologies, particularly in transportation and logistics. They include investments in autonomous trucking startup Stack AV, an AI-using warehousing joint venture with Symbotic Inc and a follow-on investment in Vision Fund portfolio firm and navigation software maker Mapbox Inc.
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