SoftBank Group Corp. is in talks with potential investors in Canada and the Middle East to raise $7 billion of additional capital for its tech fund, Bloomberg News reported June 1, citing people familiar with the matter.
The Japanese tech giant is reportedly in discussions with Canadian pension funds and sovereign wealth funds in Kuwait and Qatar. The new investments would take the total pool to $100 billion, though there is no guarantee that the parties will reach an agreement, the sources added.
SoftBank's Vision Fund will charge a 20% performance fee and a 0.5% to 1% management fee, according to the sources.
Meanwhile, the company is looking to hire around 50 people to help manage its investments.