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Technology Stocks : Softbank Group Corp
SFTBY 81.06-8.3%Nov 4 3:59 PM EST
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To: Edwin S. Fujinaka who wrote (3771)2/9/2000 9:30:00 PM
From: TobagoJack  Read Replies (2) of 6018
 
Do not have time to check to see if the following had been posted, but 9984 is closer to realizing the dream of making own market regardless of the nay saying Nomura's of this world ... Milken style, but bigger. As long as Son does not sell down, we are probably safe, as Son is generating his own "liquidity on tap".
Wednesday, February 9, 2000
Softbank To Set Up Japan's Biggest Net Venture Cap Fund

TOKYO (Nikkei)--Softbank Corp. (9984) will in late March set up a 150 billion yen fund to invest in domestic start-ups operating in the Internet field. It will be Japan's largest fund targeting the sector.

The company initially planned to establish a 50 billion yen pool but upped the amount because interest from institutional investors was so high. Another reason was that more small companies requested investment than expected.

Wholly owned subsidiary Softbank Finance Corp. will collect 100 billion yen from outside investors and put up 50 billion yen of its own money.

Softbank Investment Corp., another group subsidiary, will be in charge of managing the fund. It intends to invest a total of 100 million yen in 1,500 firms.

Softbank already has one other fund in operation. Created in July, it has 12.3 billion yen under management.

(The Nihon Keizai Shimbun Wednesday morning edition)
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