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SoftBank, Saudi sovereign fund to launch $100bn tech vehicle

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SoftBank Group chairman and CEO Masayoshi Son smiles as he attends SoftBank World 2016 conference in Tokyo on July 21.   © Reuters

TOKYO -- SoftBank Group and Saudi sovereign wealth fund Public Investment Fund on Friday announced plans to jointly set up an investment vehicle focusing on the technology sector.

The total size of the fund could be up to around $100 billion, to which the Japanese tech company will contribute at least $25 billion over the next five years, a record investment in such a fund by a Japanese company.

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