Close Menu
    Facebook LinkedIn YouTube Instagram X (Twitter)
    Blue Tech Wave Media
    Facebook LinkedIn YouTube Instagram X (Twitter)
    • Home
    • Leadership Alliance
    • Exclusives
    • Internet Governance
      • Regulation
      • Governance Bodies
      • Emerging Tech
    • IT Infrastructure
      • Networking
      • Cloud
      • Data Centres
    • Company Stories
      • Profiles
      • Startups
      • Tech Titans
      • Partner Content
    • Others
      • Fintech
        • Blockchain
        • Payments
        • Regulation
      • Tech Trends
        • AI
        • AR/VR
        • IoT
      • Video / Podcast
    Blue Tech Wave Media
    Home » SoftBank joins $130M fund to boost AI startups
    8-16-AI
    8-16-AI
    AI

    SoftBank joins $130M fund to boost AI startups

    By Tacy DingAugust 19, 2024Updated:August 26, 2024No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email
    • Japan’s SoftBank Group, along with conglomerates from South Korea and Thailand, will participate in a fund designed to make swift and substantial investments in AI startups.
    • Asian conglomerates are joining forces to address the rising demand for rapid capital injections.

    OUR TAKE 
    The significant interest and investment in AI startups, as evidenced by this new fund, underscore the growing recognition of AI’s transformative potential. As AI technologies advance and become more integral to various industries, substantial funding will be crucial to support innovation and development. This move addresses the high capital needs of AI startups and indicates a trend towards collaborative innovation between established companies and emerging tech firms.

    -Tacy Ding, BTW reporter

    What happened 

    SoftBank, SK Networks (a subsidiary of SK Group), LG Electronics, Hanwha Financial, and a Thai conglomerate have recently signed an agreement to join a $130 million fund established by the founders of the venture capital firm The Edgeof. The deal is expected to be finalised by the end of this month, according to a source familiar with the matter.

    “The aim of the fund is for investors to quickly realise collaborations with startups for their AI-based applications,” the person said.

    The fund will use resources from the former SoftBank Ventures Asia (SBVA), which managed $2 billion in assets. SBVA was acquired by The Edgeof, co-founded by Taizo Son, the younger brother of SoftBank CEO Masayoshi Son, in 2023. Taizo Son and two other founders will be general partners.

    The fund is negotiating with more companies in East and Southeast Asia and aims to reach around $200 million by year-end. It will focus on mid-stage startups in AI and advanced technologies like quantum computing, targeting sectors such as healthcare, robotics, and SaaS.

    Also read: SoftBank abandons AI chips partnership plan with Intel

    Also read: AI startups ramp up lobbying efforts to shape future policy

    Why it’s important 

    This move comes as venture capital funds struggle to keep pace with the rapid growth of startups utilising generative AI, which enables them to scale their services much faster than traditional constraints, such as staff size, would allow. Simultaneously, the investment required for AI startups to remain competitive has surged dramatically.

    Taizo Son remarked in a previous interview with Nikkei that it is “structurally difficult” for venture capitalists to meet such aggressive investment demands. In recent weeks, global tech stocks have faced a sell-off as investors grow concerned that returns on AI investments might take longer than anticipated to materialise. While the new fund aims to attract Silicon Valley companies as well, its primary focus will be on startups planning to operate in Asia.

    According to data from the U.S. research firm CB Insights, as of July 2024, there were only 53 unicorns—privately held startups valued at $1 billion or more—across ASEAN, South Korea, and Japan combined. In comparison, the U.S. has 670 unicorns.

    AI SoftBank Technology Trends
    Tacy Ding

    Tacy Ding is an intern reporter at BTW Media covering network. She is studying at Zhejiang Gongshang University. Send tips to t.ding@btw.media.

    Related Posts

    Orange Business: Unveils defence division

    July 11, 2025

    AFRINET SA: Expands digital services in the DRC

    July 10, 2025

    Vodafone and Digital Realty launch subsea hub in Crete

    July 10, 2025
    Add A Comment
    Leave A Reply Cancel Reply

    CATEGORIES
    Archives
    • July 2025
    • June 2025
    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    • October 2024
    • September 2024
    • August 2024
    • July 2024
    • June 2024
    • May 2024
    • April 2024
    • March 2024
    • February 2024
    • January 2024
    • December 2023
    • November 2023
    • October 2023
    • September 2023
    • August 2023
    • July 2023

    Blue Tech Wave (BTW.Media) is a future-facing tech media brand delivering sharp insights, trendspotting, and bold storytelling across digital, social, and video. We translate complexity into clarity—so you’re always ahead of the curve.

    BTW
    • About BTW
    • Contact Us
    • Join Our Team
    TERMS
    • Privacy Policy
    • Cookie Policy
    • Terms of Use
    Facebook X (Twitter) Instagram YouTube LinkedIn

    Type above and press Enter to search. Press Esc to cancel.