Rajeev Misra resigns from two roles amid SoftBank’s record losses
- ByStartupStory | September 1, 2022
Rajeev Misra, a prominent executive at SoftBank and a close friend of CEO Masayoshi Son, resigned from two positions at the Japanese investment firm after it reported losses on Wednesday. Misra will step down as corporate officer and executive vice president of the SoftBank Group on Wednesday.
He will continue to lead SoftBank Investment Advisers, the firm in charge of the $100 billion Vision Fund, which has made high-profile investments in businesses such as Uber and Chinese ride-hailing giant DiDi.
Misra’s departure comes just weeks after he stepped down as CEO of SoftBank Global Advisors, which controls the second Vision Fund, Vision Fund 2. Misra is establishing his own multi-asset overseas investment vehicle. Misra was instrumental in establishing the initial Vision Fund in 2017, which helped SoftBank become one of the world’s largest tech investors. It has made investments all across the world, from the United States to China.
However, SoftBank’s investing approach has come under scrutiny following a spate of failed investments, such as WeWork, and a recent collapse in technology equities, which have harmed the fund’s performance. Indeed, SoftBank’s Vision Fund lost 3.5 trillion Japanese yen in its fiscal year ending March 31.
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