SoftBank’s Masayoshi Son To Meet PM Modi

Share via:


SUMMARY

Masayoshi Son also met Reliance Industries chairman Mukesh Ambani. During the meeting, they discussed potential AI opportunities in India

One of the biggest investors in the homegrown startup landscape, SoftBank has backed nearly a fifth of India’s 100+ unicorns and has pumped more than $15 Bn in the country

Four Indian startups from SoftBank’s portfolio – Swiggy, Ola Electric, FirstCry and Unicommerce – have listed on the bourses since August this year

Ace investor and SoftBank founder Masayoshi Son will reportedly meet Prime Minister (PM) Narendra Modi in Delhi on Wednesday (November 27). 

Son, who is currently on a brief visit to India, also met top business leaders in Mumbai, Reuters reported.

The report said that the head of the tech investment giant met Reliance Industries chairman Mukesh Ambani on Tuesday. During the meeting, they discussed potential artificial intelligence (AI) opportunities in India.

This is Son’s second visit to the country in the past two years. In March 2023, he met founders and CEOs of some of the biggest startups in the country and also attended the wedding celebrations of hospitality major OYO’s founder and CEO Ritesh Agarwal.

For the uninitiated, SoftBank is one of the biggest investors in the homegrown startup landscape. The tech investment firm has backed nearly a fifth of India’s 100+ unicorns and has pumped more than $10 Bn in the country to date

SoftBank has reportedly also clocked exits worth $6 Bn to $6.8 Bn from the country as of August 2024. Since then, four of its portfolio startups – Swiggy, Ola Electric, FirstCry and Unicommerce – have listed on the bourses and raked in hundreds of million dollars in exits for the VC major. 

Over the course of the next 12-18 months, SoftBank’s other portfolio companies such as OfBusiness and Lenskart are also planning to go public. 

Notably, the Japanese tech investor has been wary of new investments in Indian startups lately. For the past 20 months, SoftBank had adopted a wait-and-watch strategy and backed fewer homegrown new-age tech companies amid the ongoing funding winter. 

However, the investment firm appears to be back in action and is reportedly preparing itself to invest in Indian startups again. It has internally underlined plans to invest over $100 Mn per round, particularly in growth-stage Indian ventures. 





Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

SoftBank’s Masayoshi Son To Meet PM Modi


SUMMARY

Masayoshi Son also met Reliance Industries chairman Mukesh Ambani. During the meeting, they discussed potential AI opportunities in India

One of the biggest investors in the homegrown startup landscape, SoftBank has backed nearly a fifth of India’s 100+ unicorns and has pumped more than $15 Bn in the country

Four Indian startups from SoftBank’s portfolio – Swiggy, Ola Electric, FirstCry and Unicommerce – have listed on the bourses since August this year

Ace investor and SoftBank founder Masayoshi Son will reportedly meet Prime Minister (PM) Narendra Modi in Delhi on Wednesday (November 27). 

Son, who is currently on a brief visit to India, also met top business leaders in Mumbai, Reuters reported.

The report said that the head of the tech investment giant met Reliance Industries chairman Mukesh Ambani on Tuesday. During the meeting, they discussed potential artificial intelligence (AI) opportunities in India.

This is Son’s second visit to the country in the past two years. In March 2023, he met founders and CEOs of some of the biggest startups in the country and also attended the wedding celebrations of hospitality major OYO’s founder and CEO Ritesh Agarwal.

For the uninitiated, SoftBank is one of the biggest investors in the homegrown startup landscape. The tech investment firm has backed nearly a fifth of India’s 100+ unicorns and has pumped more than $10 Bn in the country to date

SoftBank has reportedly also clocked exits worth $6 Bn to $6.8 Bn from the country as of August 2024. Since then, four of its portfolio startups – Swiggy, Ola Electric, FirstCry and Unicommerce – have listed on the bourses and raked in hundreds of million dollars in exits for the VC major. 

Over the course of the next 12-18 months, SoftBank’s other portfolio companies such as OfBusiness and Lenskart are also planning to go public. 

Notably, the Japanese tech investor has been wary of new investments in Indian startups lately. For the past 20 months, SoftBank had adopted a wait-and-watch strategy and backed fewer homegrown new-age tech companies amid the ongoing funding winter. 

However, the investment firm appears to be back in action and is reportedly preparing itself to invest in Indian startups again. It has internally underlined plans to invest over $100 Mn per round, particularly in growth-stage Indian ventures. 





Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

Amazon allegedly violates labor law at its Indian warehouse

The investigation began after reports of unsafe work...

Why Are Investors Betting on AI Skyscrapers, Not Foundational...

SUMMARY 91% of the money invested in Indian native...

Pump.fun weekly revenue drops 66% after livestream controversy

Pump.fun’s weekly revenue peaked at $33 million in...

Popular

Upcoming Events

Startup Information that matters. Get in your inbox Daily!