SoftBank’s Vision Fund will outline plans for a blank-check company in the next two weeks, seeking to capitalize on the investor frenzy surrounding the unusual fundraising vehicle.
Rajeev Misra, the head of the Vision Fund, teased the effort in an interview at the Milken Institute’s virtual conference. He didn’t provide details. Misra separately addressed reports from last month that SoftBank was the "Nasdaq whale” and downplayed its influence in stirring froth in the market for tech stocks.
The target size of the Vision Fund’s blank-check company has yet to be determined, according to a person familiar with the plans. SoftBank is expected to seek outside funds and may contribute some of its own capital, said the person, who asked not to be identified because the details are private.