Sprint parent company to invest $50B in U.S. startups
December 7, 2016 | Bobby Burch
The billionaire behind Sprint’s parent company plans to unload some serious investment capital in American startups.
After a meeting with President-elect Donald Trump, SoftBank CEO Masayoshi Son announced that he plans to invest $50 billion in U.S. startups that will create tens of thousands of jobs in the next four years, according to the Associated Press. SoftBank purchased a majority of Overland Park-based Sprint in 2013 for $22 billion.
“We are going to invest $50 billion in the U.S. and commit to create 50,000 new jobs,” Son said. “We (will) invest into the new startup companies in the United States.”
While Trump appeared to take credit for the announcement, the prospective capital derives from a previously announced $100 billion fund. SoftBank in October announced that it partnered with a Saudi Arabian wealth fund to launch a $100 billion tech fund. The Wall Street Journal reports that SoftBank has poured more than $45 billion into tech investments alongside co-investors over the past two years. SoftBank owns more than 235 companies and more than 100 affiliates.
Son’s meeting with Trump sets the stage for what could be another attempt by SoftBank to acquire T-Mobile and merge it with Sprint. U.S. regulators thwarted that attempt in 2015, however, a Trump administration may be more open to the idea.
2016 Startups to Watch
stats here
Related Posts on Startland News
Leawood Venture Capital opens new $25 million startup fund
Kansas City has a new venture fund focusing on early-stage tech firms. With $25 million in its coffers, Leawood Venture Capital has already made several investments in tech firms around the nation, including Kansas City-based Pepper IoT. Led by seasoned businessmen Brendan Fallis and Karl Gemperli, Leawood Venture Capital will provide equity investments and growth…
Events Preview: Lean Lab happy hour, business model canvas
There are a plethora of entrepreneurial events hosted in Kansas City on a weekly basis. Whether you’re an entrepreneur, investor, supporter, or curious community member — we recommend these upcoming events for you. Are you hosting a relevant community event? Feel free to add it to the FWD/KC calendar for increased exposure. Once your event…
Concerned tech leaders pen amicable yet stern letter on KCMO’s proposed Airbnb, Homeaway rules
An advocacy group representing the area tech industry has offered a series of concerns on how the City of Kansas City, Mo., could regulate home-sharing services like Airbnb or Homeaway. In a letter to the Kansas City Council regarding proposed regulations on homesharing, the KC Tech Council said the area now has an opportunity to…
Prairie Char, Integrated Animal Health sweep international ag, bio tech competition
Two tech firms based in Lawrence, Kan., swept the top awards at a recent national agriculture and biotech conference. Beating out more than 500 international competitors, Prairie Char and Integrated Animal Health snagged first and second place, respectively, at the North Carolina Biotechnology Center’s annual entrepreneurial showcase. “What this says is that Kansas is very…