SoftBank vision fund drew big Persian Gulf investors. Their bets are floundering

SoftBank reported last week that the fund has erased nearly $40 billion in previously announced gains in the 12 months through June 30 (Photo: Bloomberg) — SoftBank reported last week that the fund has erased nearly $40 billion in previously announced gains in the 12 months through June 30 (Photo: Bloomberg)

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6 min read . Updated: 15 Aug 2022, 06:56 PM IST Rory Jones, The Wall Street Journal

Saudi Arabia’s and Abu Dhabi’s investment in the technology-focused Vision Fund is lagging behind the market

Five years ago, Saudi Arabia and Abu Dhabi made an audacious bet on startups, plowing $60 billion into a fund run by investor SoftBank Group Corp. in a bid to diversify their economies and rush into the tech sector.

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