Japan-headquartered telecommunications and internet firm SoftBank provided $5bn of the $5.5bn China-based ride hailing platform Didi Chuxing raised late last month.
Didi Chuxing, which runs the largest on-demand ride platform in China by market share, revealed in late April that SoftBank had led a round that included Silver Lake Kraftwerk, China Merchants Bank and Bank of Communications which reportedly valued it at more than $50bn.
The size of SoftBank’s contribution was revealed in its earnings report for the 2017 fiscal year. Details of the investment emerged as a report in Bloomberg stated that the company could formally confirm the closure of its Vision Fund, in which it is investing $25bn, at $95bn next week.
The rest of the capital will come from limited partners including electronics producers Apple and Qualcomm, Saudi Arabia’s sovereign wealth fund, which could invest up to $45bn, and the Abu Dhabi-owned Mubadala Development Co, which could supply up to $15bn.