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India-born Rajeev Misra to head Softbank vision fund

India-born Rajeev Misra

Riyadh, Oct 17 (UITV)- Japanese telecom and internet major Softbank Corp has named India-born Rajeev Misra as head of its ambitious $100 billion fund which will invest in technology companies across the world, making it one of the world’s largest private equity investors and a potential kingpin in the industry.

Mishra joined Softbank Group as head of strategic finance and also work with SoftBank Internet and Media Inc, which Nikesh Arora headed as CEO. Arora left Softbank in July this year. Misra will get to take the mantle of the fund, which will potentially have $100 billion to invest in technology companies globally.

The 54-year-old Misra, currently head of strategic finance at Softbank, is a former debt trading veteran. He has in the past, worked with Germany’s Deutsche Bank and Swiss finance company UBS AG and had joined Softbank almost after leaving global investment management firm Fortress Investments Group LLC, where he had worked for less than a year.

On Friday, Softbank announced the launch of Softbank Vision Fund which it will “seed” with $25 billion in a strategic partnership with Saudi Arabia’s sovereign wealth fund, the Public Investment Fund of the Kingdom of Saudi Arabia, chipping in $45 billion. The remaining amount will be raised from other investors, and the two parties aim to deploy the corpus over next five years.

Misra, who is also an independent director on the board of Eros International Plc, the holding company of the Indian movie production and distribution company Eros International Media Ltd, has a master’s in computer science from the University of Pennsylvania and an MBA from MIT Sloan School of Management.