SoftBank Group Corp.'s founder, Masayoshi Son, has unveiled a second enormous fund for technology investments, seeking to extend his reign as the most influential investor in the industry.
The Japanese conglomerate aims to raise a total of $108 billion (¥11.7 trillion) for the second Vision Fund, which would make it even larger than the first, unprecedented $100 billion effort.
SoftBank is also taking more control this time around, committing $38 billion in capital itself and replacing Saudi Arabia as the largest investor. Saudi Arabia's Public Investment Fund, which chipped in $45 billion for the initial effort, was not mentioned in the announcement Friday.