According to a report from Bloomberg News citing sources familiar with the matter at hand, SoftBank Group Corp’s Vision Fund has significantly written down its $1.5 billion investment in supply-chain finance company Greensill Capital.
According to the report, SoftBank’s Vision wrotedown its investment in Greensill Capital towards the end of 2020 with SoftBank considering dropping the valuation to close to zero.
SoftBank did not immediately respond to requests for comments.
According to the report, Greensill, owned by Lex Greensill, has been looking to raise funds with the aim of going public.
On Monday, the asset management arm of Credit Suisse suspended funds that invest in Greensill products over concerns about the value of the funds’ investments.