SoftBank could potentially invest nearly $3 billion into WeWork through its Vision Fund.
A source familiar with the matter at hand has disclosed that SoftBank Group Corp has invested $300 million in WeWork, a shared-office space company.
The investments is the first of multi-billion-dollar investment the SoftBank Group is potentially going to make in WeWork.
The Japanese telecommunications and internet company has made some bold wide-ranging bets in the technological sector, including in Indian ride-sharing company Ola, Virginia-based satellite communications startup OneWeb, and San Francisco-based financial services startup SoFi.
As per the source, the investment in WeWork is the tranche of a much larger funding round which is expected to potentially total to approximately $3 billion.
Although the first funding round has come from SoftBank, further funding is expected to be routed through SoftBank’s $100 billion Vision Fund, headed by CEO Masayoshi Son.
The Vision Fund is SoftBank’s vehicle for making tech-oriented investments.
SoftBank and WeWork declined to comment.
WeWork is into the business of leasing office space and strategically rents out office space to small companies, startups and individuals.
It encourages people to share a common space, including offices.