SoftBank’s $100 Billion Tech Fund Sets Up London Headquarters

Amid the well-documented number of financial services firms contemplating moving their operations out of the UK and into European cities such as Paris post-Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term, SoftBank Group has bucked the trend and decided to place the headquarters of its $100 billion technology private equity group in London, providing the UK's capital with a vote of confidence. The company has also started hiring investment advisers, according to a Bloomberg report today.

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The SoftBank Vision Fund has opened offices in West London’s upmarket Mayfair with offices that are surrounded by luxury art galleries and which are just a stone’s-throw away from the city’s flagship designer fashion stores and Buckingham Palace.

The tech fund giant has hired 10 staff for its London office and there are reports that it may hire several dozen more. "London is set to be the global Hub Hub A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method Read this Term for the Vision Fund", according to sources cited by Bloomberg.

New Appointments

Jonathan Bullock, chief operations officer of SoftBank International, and Alok Sama, SoftBank’s chief financial officer, have been appointed senior advisers to the fund, and will be based in London.

Rajeev Misra, head of strategic finance at SoftBank, has already been announced as leading the fund, with former Deutsche Bank senior executive Nizar Al-Bassam and Goldman Sachs partner Dalinc Ariburnu joining as advisers.

SoftBank is renting the space from an undisclosed private investor, who took out a 125-year lease on 69 Grosvenor Street for $44.3 million in March.

The investment vehicle, a joint venture with Saudi Arabia’s Public Investment Fund, is reportedly looking to raise the remaining $30 billion to meet its $100 billion target.