Colin Fan has left his managing partner role at SoftBank Investment Advisers (SBIA), which manages Japan-based internet and telecommunications group SoftBank’s Vision Funds, Bloomberg reported on Sunday, citing people privy to the matter.
Fan joined SBIA in 2017 after almost two decades at financial services firm Deutsche Bank in various executive roles. He managed financial technology deals on behalf of SoftBank’s Vision Funds, overseeing deals for portfolio companies including Fair, Flexport, Greensill, Cheduoduo (Guazi) and Zume.
Fan will take up an adviser position at SBIA while his previous duties will be assumed by Munish Varma, a UK-based SBIA managing partner who will relocate to the United States, the sources added.
Neither Fan nor representatives of SoftBank Vision Fund were available for comment. The move came in the wake of news last week that Jeff Housenbold is set to quit his managing partner role at SBIA later this year.
Various SBIA executives have departed in the past year, including chief operating officer Ruwan Weerasekera, chief risk officer Maria Khan, partners Avi Golan, Ted Fike, Justin Wilson, Penny Anne Bodle and Carolina Brochado, founding partner David Thévenon and managing directors Praveen Akkiraju and Michael Ronen.
SoftBank Vision Fund I and II jointly booked a $9.6bn gain in investment valuations at the end of the third quarter of 2020, the Financial Times has reported, after logging an $18bn loss in the previous fiscal year.
The corporate is likely to report profits in its second quarter of this year, following food delivery service DoorDash’s $3.37bn IPO and a 37% surge in ride hailing service Uber’s stock price, according to Bloomberg.
Photo of Colin Fan courtesy of SoftBank Investment Advisers.
