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SoftBank

SoftBank eyes smaller bets, bigger returns in Vision Fund rethink

Japanese investment vehicle steps away from winner-takes-all playbook

The Vision Fund's $100 million backing for Biofourmis, a U.S. startup that tracks health data using wearable devices, highlights its new focus on early-stage investments. (Photo courtesy of Biofourmis)

TOKYO -- SoftBank Group's Vision Fund is turning to a new strategy as a global pandemic and government stimulus distort tech valuations: Invest smaller in hopes for bigger returns.

After raising nearly $100 billion and investing $85 billion in high-profile companies like Uber Technologies, WeWork and ByteDance over three years, the Vision Fund is now focusing on making smaller bets in early-stage startups.

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