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SoftBank Vision Fund makes record investment in India's Flipkart

SoftBank Group Corp.'s SoftBank Vision Fund will become one of the largest shareholders in Flipkart India Pte. Ltd. following an investment comprising primary and secondary capital, the Indian e-commerce marketplace said.

The investment is the largest private investment in an Indian tech firm. SoftBank Vision Fund joins Tencent Holdings Ltd., eBay Inc. and Microsoft Corp. as investors in Flipkart, with the Indian firm reaching more than $4 billion in cash on its balance sheet.

Founded in 2007, Flipkart offers more than 80 million products across over 80 categories on its platform.