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SoftBanks Vision Fund is preparing to invest $1 billion in Grab

SoftBanks Vision Fund is set to continue its recent spree of investments in Asian tech unicorns. The mega fund which is targeted at $100 billion is planningto invest upwards of $1 billion into Southeast Asias ride-hailing leader Grab, two sources with knowledge of the plan told TechCrunch. The investment could reach as much as $1.5 billion, one source added.
A SoftBank representative did not respond to a request for comment.Grab declined to comment.
The Vision Fund has made significant investments in three billion-dollar Asian companies in recent months. That includes backing Indias OYO as part of a $1 billion round (which included money from Grab) in September, writing a $2 billion check for Koreas Coupangin November and co-leadinga $1.2 billion round for Tokopedia in Indonesiaalongside Alibaba earlier this month.
There is a pattern that SoftBank appears to be following here.
In all three cases, the Japanese company was an existing investor and, having transferred its stakes to the Vision Fund, it then doubled down and invested again via the Vision Fund itself. Thats also the plan for this Grab deal, TechCrunch understands.
SoftBanks most recent financial report, filed in November, explains that it plans to move its stakes in ride-hailing firms Uber, Chinas Didi, Indias Ola and Grab over to the Vision Fund. But that hasnt happened yet and it isnt clear when it will.
The Company expects that the necessary procedures will be made in the future to obtain applicable consent from limitedpartners of the Fund and regulatory approvals for the transfer, it explained in the report, which doesnt include a projected timeframe.
One source told TechCrunch that the investment in Grab is contingent on that equity transfer being made, as was the case with Tokopedia and Coupang, which saw SoftBank-owned stakes transferred to the fund in Q3 of this year.
SoftBanks Vision Fund is preparing to invest $1 billion in Grab
Grab CEO and co-founder Anthony Tan [Photographer: Ore Huiying/Bloomberg/Getty Images]
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