SoftBank’s Vision Fund 1 recorded a gross loss of $544 million on its $1.6-billion investment in embattled fintech major Paytm, according to a presentation made by the Japanese technology conglomerate.
It exited all its holdings in Paytm in the June quarter.
In comparison, SVF 1 has recorded a $394-million gross gain on an investment cost of $199 million in online insurance aggregator Policybazaar, which it has fully exited.
The fund is sitting on a gain of $285 million on its investment of $397 million in Delhivery, in which it still holds a stake of 10.15 percent (as of the end of June quarter).
It also recorded a gain of $65 million on its full exit from Zomato where it had got a small shareholding after its portfolio company Blinkit was acquired by food aggregator in 2022.
While SoftBank has invested about $10.6 billion (Rs 88,700 crore) in India’s tech startups over the past decade, it has booked exits of about $6-6.8 billion (over Rs 50,000 crore) to date.
SoftBank is sitting on 106 percent gains on cumulative investment of $843 million (Rs 7,085) crore in Ola Electric, FirstCry and Snapdeal-backed Unicommerce, expected to list on Dalal Street within the next two weeks, a Moneycontrol analysis of offer documents shows.
While the Japanese tech investor is offering to sell up to $153 million (Rs 1,287-crore) worth of shares through the three initial public offerings (IPOs), it will still be left with up to Rs 11,011 crore worth of stocks after the companies list on the market.
SoftBank has already sold FirstCry shares worth $275 million (Rs 2,312 crore) but has not yet offloaded any shares of the other two companies.
As the feted investor realigns its strategy to focus on artificial intelligence (AI), it has been exiting its mature investments in sectors like e-commerce and fintech.
In a presentation to investors earlier this year, SoftBank Vision Funds said the combined fair value of its portfolio in India was $13.8 billion (Rs 1.1 lakh crore), which is nine percent of its global investments at the end of the December quarter of 2023.
Moneycontrol exclusively reported earlier that the Japanese technology conglomerate is weighing investments in Indian data centre and industrial robotics firms, as it looks to step up bets on the infrastructure layer of AI. It has been evaluating companies in these sectors and may invest $75 million to $150 million per deal, sources told .
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
