SoftBank has announced the induction of India-born Rajeev Misra who has been heading the firm's Vision Fund since over seven months, into the company's board of members. Earlier this month, SoftBank CEO and President Masayoshi Son signed a deal with the Saudi Government raising USD 93 billion capital for his Vision Fund.
SoftBank Group and Saudi Arabia's main sovereign wealth fund have committed to invest over USD 93 billion in technology sectors such as artificial intelligence and robotics. This will be the world's largest tech innovation. The Softbank Vision Fund is expected to target long-term investment in firms that seek to target the next leg of innovation.