The venture capital community has been fretting about the impact SoftBank Group Corp.'s giant tech fund has on deal prices. The Japanese company says to be grateful.

"It's good for investors if valuations go up as they can exit at those prices," said Rajeev Misra, head of the Vision Fund, citing deals with Didi Chuxing, Uber Technologies Inc. and WeWork Cos. where early investors exited by selling stakes to SoftBank.

The industry is upset that SoftBank is muscling in on deals and has voiced concerns that it's ladling out more money than startups need or can absorb, pushing valuations too high.