SoftBank is apparently in talks with Abu Dhabi investment vehicle Mubadala Development, and investors in Europe and North America, about joining its technology fund, earmarked to raise as much as $100 billion in five years.
According to Bloomberg, Mubadala is weighing up a potential multi-billion dollar investment in the technology-focussed vehicle, joining Saudi Arabia’s largest sovereign wealth fund, which could plunge as much as $45 billion in the project.
SoftBank has committed to a $25 billion spend in the fund.
Citing unnamed sources, the publication said SoftBank, led by chairman Masayoshi Son, is also in talks with unnamed European and North American investors, although no final agreement has been reached.
Qatar’s Investment Authority sovereign wealth fund was also reportedly in discussions to fund the project last month.
Mubadala’s spokesman Brian Lott said the company is “taking a serious look at a potential investment to the fund, as we do with similar, strong investment opportunities”.
The SoftBank Vision Fund will focus on making investments in the technology sector globally, and is seeing interest from Middle Eastern investors and sovereign wealth funds in particular.
One of Son’s key technology visions for the future is Singularity, the idea that machine intelligence computing processing will rival, and exceed, human intelligence, causing a shift in the way numerous industries operate.