March 19, 2020 / 5:19 PM / in 16 days

SoftBank seeks $10 billion for Vision Fund in coronavirus fight

FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File Photo

(Reuters) - SoftBank Group Corp (9984.T) is looking to raise an additional $10 billion (8.7 billion pounds) to help its first Vision Fund support portfolio companies hit by the coronavirus pandemic, Bloomberg reported here on Thursday, citing people with knowledge of the matter.

The Japanese technology conglomerate has reached out to outside investors for $5 billion in funds, which will be matched by another $5 billion injection by the SoftBank, the report said.

SoftBank did not immediately respond to a request for comment.

Reporting by Noor Zainab Hussain in Bengaluru; Editing by Vinay Dwivedi

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