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Home Business StartUPs

Co-CEO of SoftBank Vision Fund Rajeev Misra Steps Down

by Joan Aimuengheuwa
November 12, 2024
in StartUPs
0
Co-CEO of SoftBank Vision Fund Rajeev Misra Steps Down
Rajeev Misra

Rajeev Misra

UBA
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Rajeev Misra has stepped down from his role as co-CEO of SoftBank Vision Fund, bringing an end to a decade-long involvement with the Japanese conglomerate. 

SoftBank Vision Fund is one of the world’s largest venture capital funds with investments in global startups including Nigeria’s Opay and Andela. Rajeev Misra’s position saw both commendable successes and notable setbacks. 

His departure is the latest in a series of changes for the Vision Fund, following his earlier exit from SoftBank Group’s executive roles in 2022.

Misra was a key figure in the establishment of SoftBank Vision Fund in 2017, a fund that quickly attracted an extraordinary $100 billion in investments from high-profile backers such as Saudi Arabia, the UAE, and Apple. 

His vision alongside SoftBank’s founder, Masayoshi Son, boosted the Vision Fund to become a top player in global venture capital. 

However, the fund’s aggressive bets on the startup sector did not always pay off. High-profile failures, including the implosions of WeWork, Zume Pizza, and Wag, marked the fund’s later years, raising questions about the sustainability of its approach.

But then, Misra’s tenure also saw some successes. Vision Fund 1, for example, reaped good returns from investments in companies like Coupang and Didi Global, bolstering the fund’s reputation in technology investment. 

However, Vision Fund 2 faced greater challenges, with a number of its investments failing to achieve the anticipated growth.

In addition to overseeing the Vision Fund, Misra also clashed with senior colleagues, including Nikesh Arora and Marcelo Claure, both of whom left SoftBank under contentious circumstances. 

Despite these tensions, Misra remained a central figure at SoftBank for years, steering the company’s investments in key sectors such as artificial intelligence, robotics, and the Internet of Things.

After stepping away from his executive duties at SoftBank Group in 2022, Misra founded One Investment Management, a fund backed by Abu Dhabi with $6.8 billion in assets. 

This was a new chapter in his career, but now, with his official departure from SoftBank, he will no longer hold any formal role within the company.

The Vision Fund, which remains a critical component of SoftBank’s investment strategy, will now be led solely by Alex Clavel, who will take on the role of CEO of SoftBank Investment Advisers and SoftBank Global Advisers. 

This leadership change reveals a new direction for the Vision Fund, one that will look to build on its successes while addressing the challenges that have arisen under Misra’s leadership.

Throughout his time at SoftBank, Misra helped the Vision Fund make strategic investments across a broad range of industries. 

The fund’s involvement in Africa has been key, with investments in companies like OPay, a Nigerian fintech platform, and Andela, a talent outsourcing company.

These investments reiterate SoftBank’s focus on supporting emerging markets and ensuring technological growth globally.

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Tags: AndelaOPayRajeev MisraRajeev Misra Exits SoftBankSoftBankSoftBank GroupSoftBank Vision Fund
Joan Aimuengheuwa

Joan Aimuengheuwa

Joan thrives at helping individuals and businesses scale via storytelling...

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