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SoftBank sets up London headquarters for tech fund

SoftBank Group Corp. chose London's upscale Mayfair area as the site of the headquarters for its $100 billion tech fund, Bloomberg News reported Dec. 9.

The Japanese tech giant has already appointed advisers for the fund and hired 10 people for the SoftBank Vision Fund office, and may add dozens more to the staff, a person familiar with the plans told Bloomberg.

SoftBank founder and CEO Masayoshi Son recently announced that his company will invest $50 billion in the U.S., which will be sourced from the fund.

The SoftBank Vision Fund is being established with the Public Investment Fund of the Kingdom of Saudi Arabia and other partners, and will be used as a vehicle for SoftBank's large-scale investments.