SoftBank's investment arm in India has seen significant growth, with the fair value of its investment portfolio reaching close to $14 billion across Vision Fund I and II as of December 2023, marking a 9% increase.
Flipkart Among Top Valued Companies
Ecommerce giant Flipkart stands out as one of the top 15 most valued companies in SoftBank's investment portfolio, highlighting the conglomerate's strategic investments in key players within India's digital ecosystem.
SoftBank achieved a milestone by turning profitable for the first time in five quarters, posting a net profit of over $6 billion for the quarter ending December. This profitability was bolstered by a surge in stock prices of listed firms from Vision Fund I, indicating the investor's prudent investment strategies.
Strategic Exits and Dividend Payouts
SoftBank realized significant gains through strategic exits, including Zomato, Policybazaar, and PhonePe, contributing to its overall profitability. Notably, PhonePe's exit was part of the dividend payout resulting from SoftBank's investment in Flipkart.
Sustained Growth Trajectory
Both Vision Fund I and II exhibited strong performance, registering a combined gain of $3.6 billion in the October-December period. This marks the third consecutive quarter of profitability, signaling early signs of recovery in tech stocks.
Bullish Outlook on Indian Market
SoftBank remains bullish on the Indian market, considering it among its best-performing markets. With a robust pipeline of portfolio companies gearing up for IPOs in the next one to two years, including FirstCry and Ola Electric, SoftBank anticipates continued growth opportunities in India's burgeoning startup landscape.
Renewed Investment Focus
After an 18-month dry spell, SoftBank is gearing up to re-enter the Indian startup ecosystem with renewed vigor. The investment giant is actively seeking opportunities to invest in new-age companies and strengthen its portfolio in the Indian market.
Continued Support for Growth-Stage Ventures
SoftBank, known for its substantial investment rounds exceeding $100 million per venture, remains committed to supporting growth-stage startups in India, aiming to fuel innovation and drive sustainable growth in the startup ecosystem.
Impressive Track Record
With investments totaling $15 billion in India and funding nearly a fifth of the country's unicorn startups, SoftBank has cemented its position as a key player in India's startup landscape, driving economic growth and fostering innovation.