SoftBank, which invested in UK technology firm Improbable, is reportedly looking to raise a larger tech investment fund.
Recode reports that multiple sources have said the Japanese conglomerate, which has already raised a $93bn fund, is in early-stage discussions to raise more money.
One source close to the situation told Recode that the plans were “conceptual, but serious”.
It’s not known how big the new fund will be or who would be investing in it, but sources claimed it could be “substantially” bigger than SoftBank’s current Vision Fund, which is backed by Apple, sovereign wealth funds from Saudi Arabia and the United Arab Emirates, Qualcomm, Foxconn and Sharp.
SoftBank made headlines earlier this year after investing in well-known Silicon Valley companies such as Slack and WeWork. It also bought the UK’s Arm Holdings for £24.3bn and then went on to sell a $8bn stake in the company.
Today’s news comes amid reports that Softbank’s pending multi-billion-dollar investment in Uber is likely to go through over the coming week.