Apple to invest $1 bn in SoftBank Vision Fund
Apple Inc. is investing $1 billion in SoftBank Corp’s $100-billion tech fund, according to a report in a major international daily. SoftBank had launched the fund in October 2016, in strategic partnership with a sovereign wealth fund, Public Investment Fund of Saudi Arabia. While SoftBank would pool in $25 billion, the sovereign wealth fund was supposed to chip in with $45 billion. The rest was to be raised from other investors. The fund intends to make investments in the technology sector globally and aims to be one of the world’s largest of its kind.