Japanese conglomerate SoftBank Group is attempting to take advantage of investor appetite for both special-purpose acquisition companies (Spacs) and technology shares, says Tim Culpan on Bloomberg.
The Spac will comprise money from public investors, SoftBank’s flagship Vision Fund and funds from selling additional debt. The resulting pool of capital can then be used to buy private companies. The new vehicle will mark the first time that private investors will be allowed to participate directly in SoftBank’s venture capital investments; they won’t be obliged to suffer “a massive conglomerate discount” by investing in the wider company.
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