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SoftBank Ventures Asia Reportedly Sold to Singapore Investment Company The Edgeof

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According to reports, two companies claim that SoftBank is selling one of its venture capital departments, SoftBank Ventures Asia (SBVA), headquartered in South Korea, to the Singa

SoftBank Ventures Asia Reportedly Sold to Singapore Investment Company The Edgeof

According to reports, two companies claim that SoftBank is selling one of its venture capital departments, SoftBank Ventures Asia (SBVA), headquartered in South Korea, to the Singapore investment company The Edgeof. The financial terms of the transaction have not been disclosed, but the Singapore venture capital company aims to complete the acquisition this year.  

Softbank sells SBVA, a South Korean venture capital unit, to The Edgeof, a Singaporean investment firm

SoftBank, a Japanese multinational conglomerate holding company, is reportedly selling one of its venture capital departments to a Singaporean investment firm, The Edgeof. SoftBank Ventures Asia (SBVA), which is headquartered in South Korea, is said to be the department that’s being put up for sale.

Background

SoftBank Ventures Asia is a subsidiary of SoftBank Group Corp. It is a venture capital firm that invests in startups in the technology industry. The firm has made more than 300 investments since its inception in 2000, including investments in well-known companies like Alibaba and Coupang.
In the last few years, SoftBank has been looking to sell non-core assets to raise funds. The company sold part of its stake in Alibaba and also disposed of its stake in T-Mobile US, among other divestitures.

The Sale to The Edgeof

According to reports, the sale of SoftBank Ventures Asia to The Edgeof is expected to be completed this year. The financial terms of the transaction, however, have not been made available to the public. Once the deal is finalized, The Edgeof will become the owner of SoftBank Ventures Asia’s portfolio of investments, which include big names like Grab, WeWork, and DoorDash.
The Edgeof is a Singaporean investment firm that invests in startups and emerging growth companies in the technology and healthcare sectors. The company’s investment focus is on businesses that are driven by innovative technologies and have the potential to make a significant impact on society.

Implications of the Sale

The sale of SoftBank Ventures Asia to The Edgeof has significant implications for the tech industry in Asia. SoftBank Ventures Asia was a major player in the industry, and its portfolio of investments includes some of the most valuable startups in the region. With the sale, The Edgeof will inherit this portfolio and become a major player in the industry as well.
The sale also comes at a time when the COVID-19 pandemic has adversely impacted the venture capital industry. The number of new deals and the amount of money invested in startups has dropped significantly in recent months. The sale of SoftBank Ventures Asia to The Edgeof may be an indication of a trend of consolidation in the industry.

Conclusion

The sale of SoftBank Ventures Asia to The Edgeof will undoubtedly have significant implications for the tech industry in Asia. With The Edgeof set to inherit a portfolio of some of the most valuable technology startups in the region, the investment firm will become a major player in the industry. The sale also signals a trend of consolidation in the venture capital industry, which has been impacted by the COVID-19 pandemic.

FAQs

1. What is SoftBank Ventures Asia?
SoftBank Ventures Asia is a venture capital firm that invests in startups in the technology industry. It is a subsidiary of SoftBank Group Corp and has made more than 300 investments since its inception in 2000.
2. Who is The Edgeof?
The Edgeof is a Singaporean investment firm that invests in startups and emerging growth companies in the technology and healthcare sectors. The company’s investment focus is on businesses that are driven by innovative technologies and have the potential to make a significant impact on society.
3. Why is SoftBank selling one of its venture capital departments?
SoftBank has been looking to sell non-core assets to raise funds in recent years. The sale of SoftBank Ventures Asia is part of this strategy.

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