Bahrain’s sovereign wealth fund, Mumtalakat, has expressed interest in investing in Japan-based telecommunications group SoftBank’s Vision Fund, The National reported last week.
Vision Fund reached its $93bn first close in May this year, securing $45bn from Saudi Arabia’s Public Investment Fund and $15bn from Abu Dhabi’s Mubadala Investment Company, alongside capital from corporates Apple, Sharp, Qualcomm and Foxconn.
SoftBank has targeted a $100bn final close for the fund, and hopes to raise additional Vision Funds further down the line.
Mahmood Alkooheji, CEO of Mumtalakat, told The National: “Yes, there is potential [to invest]. It is a very promising fund. [SoftBank founder and CEO Masayoshi Son] has a track record. He has the experience and a vision.”
News of Mumtalakat’s prospective commitment came shortly after Son claimed the fund had already achieved a paper profit of $3bn based on the valuation of its investments, equating to a 22% return on investment.
Vision Fund is also gearing up to collaborate with Mubadala on a $400m investment fund. Its portfolio already includes a range of highly-valued private companies, including WeWork, OneWeb, SoFi, Slack and Oyo.