SoftBank Fund to Invest $2 Billion in Flipkart


Technology investor Softbank Vision Fund founded by Masayoshi Son, is in talks to invest directly in India’s Flipkart Online Services Pvt, according to people familiar with the matter, after talks to fold SoftBank-backed Snapdeal into Flipkart fell apart.

Bloomberg reported earlier on Tuesday that the fund could invest up to $2 billion in Flipkart. Softbank is looking at putting between $1.5 billion and $2 billion into the largest Indian e-commerce operator within the next two months. About half the money would go to Tiger Global Management, which wants to sell part of its Flipkart stake, while the rest of the funds would go to Flipkart.

SoftBank, already invested in Indian online grocer Grofers and cab hailing firm Ola, tried for months to engineer a share swap transaction between Snapdeal and Flipkart, India's two main homegrown e-commerce companies.

About The Vision Fund
The Vision Fund, created by the tech-to-solar conglomerate, has raised more than $93 billion from investors including Saudi Arabia's main sovereign wealth fund and Apple.

#SoftBank #FlipKart #SnapDeal #VisionFund #Investments 

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