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Masayoshi Son hurries out Vision Fund 2 before market turns

SoftBank founder does not want to see high valuations of investments cut

SoftBank Group CEO Masayoshi Son speaks at a news conference in Tokyo on Aug. 7. (Photo by Ken Kobayashi)

Three times in recent years, SoftBank Group founder Masayoshi Son went to visit the Kuwait Investment Authority in an attempt to cajole that Middle Eastern sovereign wealth fund into investing in the first iteration of his Vision Fund.

"You can have the honor of taking the fund from $93 billion to $100 billion," he said, promising the KIA returns of 44%, according to people familiar with the matter. Ultimately, the Kuwaitis, unlike the Saudi sovereign wealth fund and an investment arm of Abu Dhabi, declined to write a check.

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