SoftBank Elects UK VC Investor Akshay Naheta For $100 Billion Vision Fund
Akshay Naheta, an investor based in London, as well as founder and chief investment officer of Knight Assets and Co., will be joining SoftBank as a strategic finance advisor and help guide investments of the Japanese VC firm’s massive corpus of 100 billion dollars.
Photo Credit : Livemint, Yahoo,
The titanic 100 billion dollar fund tentatively, and now commonly, called the Vision Fund was announced in October last year. It’s supposedly will have many large investors pooling their war chests to make this the world’s largest VC fund. Saudi Arabia’s Public Investment Fund is expected to chip in 45 billion dollars over the next 5 years. Apple Inc. confirmed one billion dollars a few days ago; Foxconn will also be a part of this technology-focused fund.
Naheta’s Knight fund was getting ready to launch 500 million dollars on its own. With him coming on board Vision Fund, Knight Assets will be shutting shop, according to sources. The Vision Fund is set to close in January 2017.
While Knight Assets was active Naheta had made comparably smaller investments than he will be advising on for SoftBank. According to Bloomberg, some of the investments made by Naheta’s company were in Rolls Royce Holdings and Bollywood’s Eros International. The returns on his investment portfolio show an average internal return rate of 112.50 percent since 2011 on approximately 416 million dollars.
Naheta was also a Deutsche Bank trader, just like two other investment advisors already at SoftBank -Rajeev Misra, head of the Vision Fund for SoftBank and Nizar Al-Bassam. Naheta seems a natural choice with SoftBank opening its Vision Fund HQ in exclusive Mayfair, West London. He is expected to guide SoftBank’s moves on public equity investments and acquisitions.
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