The mega VC fund will be out of money in a year and a half
The SoftBank Vision Fund has spent at least $50 billion of its approximately $99 billion in less than two years, according to the WSJ. At a whopping $7 billion-per-quarter spending rate, it’s time for Masa to try and raise another fund.
Political backdrop: Crown Prince Mohammed bin Salman invested $45 billion in the first Vision Fund, and has reportedly committed another $45 billion for Vision Fund II. However, in the aftermath of the murder of journalist Jamal Khashoggi, Masa declined to comment when asked if he will still take Saudi money.
Heard in the Valley: Jeff Kingston: “Masa Son is going to find a chillier welcome in Silicon Valley. The whole ethos of these young venture capitalists is they want to make the world a better place. That’s hard to reconcile with the vision of darkness that Saudi Arabia is projecting.”