Jeffrey Housenbold, managing partner at telecommunications and internet group SoftBank’s Vision Fund, will reportedly step down in July this year, Axios has reported Axios.
Housenbold, a former GCV Rising Star award winner, joined SoftBank almost four years ago after it raised nearly $100bn for its first Vision Fund. His deals for the fund include DoorDash, OpenDoor, Compass, Rappi, Memphis Meats, Ordermark, Alto Pharmacy, Plenty, Whoop, Globality, Clutter, Get Your Guide, Katerra, Brandless, Wag, Heed and InMobi, according to his LinkedIn profile.
SoftBank’s $600m stake in DoorDash has grown in value to $13.3bn, while its $450m investment in OpenDoor is now worth $2.1bn, Axios said.
Rajeev Misra, CEO of SoftBank Investment Advisers, which manages its Vision Funds, told Axios: “Jeff has been an exceptional investor, a trusted adviser to our companies, a strategic thought leader and a champion of diversity and inclusion.
“I would like to thank him for his many significant contributions, and I wish him all the best on his next endeavour.”
Housenbold earned an MBA from Harvard Business School, where he was a dean’s fellow, and his undergraduate degrees in economics and business administration from Carnegie Mellon University, where he was an Andrew Carnegie presidential scholar who graduated with high honours.
Housenbold ran online photo-printing service Shutterfly for more than a decade “turning a modest 100-employee business into a successful market leader worth more than $1.8bn and overseeing 20-times growth in revenue, profit and market capitalisation,” according to one biography.
