SFTBY - SoftBank Vision Fund returns profit after trimming assets
Early last year, SoftBank ([[SFTBF]],[[SFTBY]]) reported a record annual operating loss due to write-offs of its WeWork and Uber investments.In the newly reported fiscal Q2 report, SoftBank Vision Fund returns to profit, posting $8B of the overall $11B profit for the quarter.The return to strength came as around half of the Vision Fund's investments were either exited through asset sales or went public (Doordash, Opendoor) during the quarter.The first Vision Fund's 82 investments were valued at $90B this quarter versus the $76.3B purchase price. Vision Fund 2 had 27 investments valued at $9.3B vs. the $4.3B purchase price.The SB Northstar trading unit disclosed $22B worth of stakes in tech companies including TSMC (TSM).Press release.SoftBank also filed for two more SPACs.
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SoftBank Vision Fund returns profit after trimming assets