SoftBank Vision Fund lost $32 billion in the financial year ending March as the Japanese investment giant, the most prolific global investor in tech startups, continues to suffer from valuation corrections across its portfolio of private and public tech companies amid a weakening global economy.
The loss surged about 70% from the same period a year prior, when SoftBank had reported $19 billion in losses at the Vision Fund unit. The losses come even as SoftBank has grown very cautious about deploying new capital to startups in recent quarters.
Among the losses, the Japanese conglomerate said its Vision Fund 1 made an unrealized loss of $1.6 billion each in SenseTime Group and GoTo and nearly $800 million in DoorDash.
The fair value of SoftBank’s portfolio was marked down over the quarter by $2.3 billion to $138 billion.
“For private portfolio companies, the fair value decreased in a wi...
