SoftBank has sold SoftBank Ventures Asia, an early-stage venture capital firm with approx. $2 billion funds under management, to The Edgeof, a newly formed venture capital entity in Singapore.
Financial details were not disclosed.
Founded in 2000, Seoul-based SoftBank Ventures Asia has focused on ICT investments, including AI, IoT, and smart robotics, with global investment professionals in Seoul, Beijing, Singapore, and San Francisco.
SoftBank Ventures Asia said it will continue to invest in innovative technology startups with solid growth potential and actively support their global business expansion.
The Edgeof was founded by Founder Taizo Son, and Co-founder and Chairman Atsushi Taira, who are highly experienced investors and serial entrepreneurs.
Following the acquisition, a fresh brand identity will be unveiled to signify the firm’s commitment to groundbreaking technologies across the region.
The Edgeof was established to build upon Mistletoe’s eight-year legacy of nurturing over 170 innovative startups committed to social and environmental sustainability.
“Through this acquisition, we aspire to build an ecosystem that enables visionary entrepreneurs and their startups to effect significant, positive societal change,” said Atsushi Taira, Co-Founder, Chairman of The Edgeof.