SoftBank Deals Hit Record Low, Sapping Funding for Startups
- SoftBank joins billions-wielding tech investors hitting pause
- The end of easy money is forcing cost cuts at some startups
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SoftBank Group Corp.’s new startup bets hit a record low last quarter as valuations continued to slide, chilling an already frosty startup winter.
The world’s largest tech investor — which at one point took part in $30 billion worth of financing rounds in more than 90 startups in a single quarter — participated in just eight investment rounds totaling $2.1 billion in the three months ending in December, data compiled by Bloomberg showed. It was the first time the number of SoftBank’s deals fell to single digits since the launch of its Vision Fund.