SoftBank’s India portfolio fair value is currently around $14 billion. This is a 9 percent increase since December 2023, as per reports. The report also revealed that Indian e-commerce company Flipkart is among SoftBank’s top 15 most valued companies. SoftBank recorded a profit of $6 billion in the quarter added by stock rally of listed firms from its Vision Fund I.
SoftBank also made full exits from Policybazaar and Zomato. It also exited PhonePe which was part of a dividend payout from the Flipkart investment.
India is among SoftBank’s best performing markets, said Navneet Govil, executive managing partner and CFO, SoftBank Vision Fund. He added that there are a number of portfolio companies in terms of IPO in the next two years after companies like FirstCry and Ola Electric filed draft IPO papers in December. Furthermore, OfBusiness, Lenskart and Swiggy are among the investment firms portfolio who are looking to go public in the next 12 to 18 months.
The VC firm has around $31 billion of fair value in their late-stage portfolio. This includes companies like Bytedance, FirstCry and Ola Electric in India, said Govil. He added that VC funding dropped by 60 percent in 2023.
As per previous reports, SoftBank sold around $2 billion worth of stake during public offerings and through post-listing sales in four Indian startups including Paytm, Zomato, PB Fintech and Delhivery, that went public in 2021 and 2022.