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Asia tech fund round-up; SoftBank forms $108b Vision 2 Fund

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No major AI startup funding news yesterday. In fact, it's been a relatively quiet week for AI startup
 
July 27 · Issue #33 · View online
Asia AI News
No major AI startup funding news yesterday. In fact, it’s been a relatively quiet week for AI startup funding announcements all round. However, it has been an absolutely mega week for tech fund raising!
Shanghai Stock Exchange’s much-hyped tech board, STAR Market, opened for trading for the first time on Monday, adding $44 billion in capital to its first 25 IPOs and creating three new billionaires in the process. Since then, of course, Nasdaq-style board has lost ground, but nevertheless a big start.
There has also been some major funding news from technology-focused funds around the region, ending the week with SoftBank Group’s announcement of $108 billion funding for its new Vision 2 Fund. The Chinese government too announced that it was closing, or close to closing, the $29 billion capitalisation of its ‘Big Fund’.
It is interesting that Friday’s SoftBank announcement disclosed deals with Microsoft Corp, Apple Inc and Taiwan’s Foxconn, but SoftBank was unable to confirm investments from either Saudi Arabia’s Public Investment Fund (PIF) or from Abu Dhabi’s sovereign wealth fund Mubadala: the two highest profile investors in the original $100 billion Vision Fund. There has been speculation about PIF and Mubadala’s participation in the Vision 2 fund for months, although some analysts argued that Vision 2 was hard to walk away from.
Have a great weekend!
/Carrington

Tech Funds
Video: SoftBank Unveils $108 Billion Vision Fund 2 (Bloomberg)
Video: SoftBank Unveils $108 Billion Vision Fund 2 (Bloomberg)
SoftBank Group announces new $108 billion Vision Fund aimed at AI
Tech Fund Round-up
It’s been an average week for startup venture capital funding announcements, but it’s been an absolutely mega week for fund raising!
Here are the main tech fund financing announcements from this week:
Startup News
China's Pony.ai races Google to bring driverless cars to masses
Shanghai startup looks to make big strides in AI
Tokopedia bets on logistics, AI for growth
STAR Market
Fund managers make fast exits in China's new STAR Market, retail investors pile in
Education
University sets up AI and robotics faculty
‘Angry Birds’ creator wants to set up AI entrepreneurship university in India
Defence
China ‘still a long way off’ closing software gap in military technology
Smart Governance
Nagano turns to AI to help craft public policy
Interview
GovTech Singapore’s CEO Kok Ping Soon (Credit: Norman Ng / PSD)
GovTech Singapore’s CEO Kok Ping Soon (Credit: Norman Ng / PSD)
Interview: Singapore’s digital chief on redesigning government around ‘moments of life’
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