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SoftBank

SoftBank to raise up to $604m for acquisition vehicle

Conglomerate aims to use Nasdaq-listed SPAC to list companies quickly

SoftBank is looking to take advantage of a surge in public markets this year. (Photo by Manami Yamada) 

TOKYO -- SoftBank Group on Monday filed in the U.S. to raise up to $604 million for a special purpose acquisition company, marking the conglomerate's latest attempt to ride a boom in public markets this year.

SVF Investment Corp., as the vehicle is called, is sponsored by SoftBank Investment Advisors, the SoftBank unit that manages its nearly $100 billion Vision Fund. It will be headed by Vision Fund CEO Rajeev Misra and intends to "promptly" list on the Nasdaq exchange.

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