SoftBank Group Corp.’s investment arm on Monday filed to raise more than $500 million for a blank-check company as it looks to take advantage of investor appetite for growth stocks.
“Our SPAC will bridge SoftBank’s private and public investing strategies by enabling us to partner with a fast-growing, IPO-ready technology company,” the filing states. “We believe that we have access to a wide range of compelling investment opportunities through our broad international presence and deep local networks.”
SVF Investment said in the filing it is interested in just about every aspect of the tech sector, including mobile communications, artificial intelligence, robotics, cloud, software, computational biology, data, hardware, transportation, consumer internet and fintech. But it also said it could buy a company that’s unrelated to tech. It stressed that it is looking for a growth business.