It's normally not a big deal if a tech investment fund scores a lot of money (unless you're a startup CEO eager for cash), but the latest windfall is definitely an exception to the rule. After no shortage of hype, Sprint owner SoftBank and the Saudi Arabian government have secured their first major round for the Vision Fund, a tech investment group hoping to back "transformative technologies" ranging from biotech to communications. How major? About $93 billion dollars -- while that's not quite the $100 billion the creators are aiming for, that easily makes it the world's largest tech investment fund, not to mention the largest private equity fund. The remaining $7 billion should come by the time the Vision Fund finishies its money-raising efforts in about 6 months.
Source: BusinessWire
SoftBank and Saudi Arabia tout the world's largest tech fund posted first on http://ift.tt/1tUdcCk
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