Softbank – So The Arm IPO Isn’t Looking All That Hot Then?

Softbank Group - Vision Fund Losses Accelerate into Quarter End

TOPIX October 2022 Rebal - Buy/Sell Baskets (May the Flow Be Ever In Your Favour)

Softbank (9984 JP) – This Time, It’s Chime

Softbank Group - ARM Suing a Key Customer Is Not the Summer News We Expected

Softbank Group - An Acceleration in Investment Does Not Require a Third Vision Fund

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Telco/Internet specialist

Kirk Boodry

Redex Research

Equity Bottom-Up

<ul>
<li>News reports indicate venture capital firms are sitting in cash reserves 2x normal levels and that needs to be put to work</li>
<li>We expected a narrowing of public v private valuation levels was needed for Softbank to pivot from recent defensive but competition for deals may be more relevant</li>
<li>Access to investment capital is easier after settling of Alibaba-linked derivative contracts and Softbank has showed as recently as 2020 asset sales that it can lever up quickly</li>
</ul>


News reports indicate venture capital firms are sitting in cash reserves 2x normal levels and that needs to be put to work
We expected a narrowing of public v private valuation levels was needed for Softbank to pivot from recent defensive but competition for deals may be more relevant
Access to investment capital is easier after settling of Alibaba-linked derivative contracts and Softbank has showed as recently as 2020 asset sales that it can lever up quickly


Qingdao Ainnovation Technology Group (2121 HK)

Softbank Group - A Surplus of VC Cash Could Re-Energize Vision Fund’s Investment Pace