Despite being one of the most active investors in the tech market, SoftBank Group posted a $6 billion loss for the quarter ending December 2022, raising concerns about its investment strategy and prompting a cautious approach towards the blockchain and crypto sector.
The SoftBank Group, a trailblazer in the tech market, has reported a staggering loss of $6 billion for the quarter ending December 2022. This marks the fourth consecutive quarter of losses for the company, amidst a market downturn and a slowdown in new investments. Despite being the largest capital deployer in the tech market in the past decade, the losses have raised concerns about the company's investment strategy.
Despite having $6.5 billion in reserve, it remains to be seen if investors will continue to support SoftBank's next fund, which is estimated to be worth between $50-$100 billion. The CEO, Masayoshi Son, has been working towards bringing stability to the company's portfolio firms, but cautions that the funding winter for startups may persist.
SoftBank is exercising caution in its approach towards the blockchain and crypto sector, with a current fair value of $1 billion for its 26 investments in the space.
Full Story: HERE (TechCrunch)
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