In what is being touted to be a major revamp at the SoftBank Group Corp, Rajeev Misra is stepping back from his main roles at the Japanese Conglomerate, as per a communication sent by SoftBank’s founder Masayoshi Son.
The development marks the exit of one of the key architects of SoftBank Group’s sometimes disordered evolution into the world’s largest technology investor. However, Misra will continue to hold a senior position with the group’s first $100 billion Vision Fund, but renounce other roles, reported Bloomberg.
Misra, who has been at the helm of the Vision Fund since 2017 when it raised $100 billion, the largest kitty of private capital, is likely to launch a new asset management platform backed by Middle Eastern Funds.
He recently held discussions with Son in Tokyo, during which he informed his boss of his plans to quit to pursue his own venture, the report stated. Misra has already secured more than $6 billion for a new fund from backers including Middle East investors. The new fund will focus on a mix of strategies. His former colleague Akshay Naheta is reportedly set to join the new venture.
According to reports, deliberations are in progress and no final decisions on the fund’s size or the timing of its launch have been taken. Meanwhile, Misra will remain CEO of the initial Vision Fund, and become vice-chairman of SoftBank’s wider investment arm, with Son assuming control of his (Misra’s) positions, according to an internal memo seen by Bloomberg
