SoftBank’s Vision Fund lost a whopping $23 billion in Q2 as tech investments turned sour… this follows a loss of $26 billion the previous quarter… all gains since 2017 have now been wiped out…

by silvertomars

Vision Fund, which upended the world of venture capital with splashy bets on startups such as ridehailers Uber and Didi, posted a $23.1 billion loss in the April-June quarter as value evaporated from its investments in the market rout.

“The world is in great confusion,” Son said at an earnings news conference.

The result caps a tumultous six months for the Vision Fund, which posted a record $26.2 billion quarterly loss in May after SoftBank was caught out by rising interest rates and political instability that hammered markets globally.

www.reuters.com/markets/funds/softbank-posts-23-bln-loss-first-quarter-2022-08-08/