Telecommunications group SoftBank will be the anchor investor in a fund sized at up to $250m that will be formed by Kabir Misra, an executive at its Vision Fund, DealStreetAsia reported yesterday.
The fund is looking to raise between $200m and $250m, according to three people close to the development. Misra is managing partner of SoftBank Investment Advisers, which manages Vision Fund, but will formally leave once the fund reaches a final close.
One of the sources told DealStreetAsia: “He is essentially transitioning into a new role and will act as an adviser to SoftBank.”
The as-yet unnamed vehicle will make early and mid-stage investments below $20m in size, avoiding any conflict of interest with Vision Fund, which focuses on large growth-stage deals.
Portfolio companies based in the US, India and Southeast Asia will be targeted, and while the sources did not reveal any particular areas of interest, Misra is regarded as an e-commerce expert.
Misra has been at SoftBank since 2006 and prior to joining SoftBank Investment Advisers was principal at SB PrinceVille Fund, the $250m fund formed in 2013 which backed companies including fitness tracker developer FitBit.
Misra also sits on the board of directors at mobile financial services provider Paytm and was reportedly heavily involved in SoftBank’s investment in another India-based company, e-commerce marketplace Flipkart, as well as the latter’s sale to Walmart earlier this year.
– Photo of Kabir Misra courtesy of Crunchbase.