SoftBank Group Corp. is close to tying up $100 billion for a technology fund that it announced with the government of Saudi Arabia, the company's founder and Chief Executive Officer Masayoshi Son has said.
"I am talking to a few investors and I think we are oversubscribed," Son said at an event in New Delhi, India, on Friday, without providing detail. He said he came to New Delhi straight from a visit to Saudi Arabia.
SoftBank and Saudi Arabia's Public Investment Fund announced the new venture in October, with the Japanese firm saying it will invest $25 billion, while Saudi Arabia committed $45 billion. The two have been talking to other investors for the remaining $30 billion.