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
KC founders share their stories of building a great Midwest company
It’s not the flashiest locale, but the Midwest is a ripe area in which to grow a global business, a group Kansas City entrepreneurs argued Monday. During the Kauffman Fellows summit, four Kansas City business leaders made the case that you don’t have to be on the coasts to build a thriving company. The…
Kauffman Fellows to foster KC, Midwest investor expertise via $960K effort
In an effort to cultivate venture capitalists in the Midwest, the Ewing Marion Kauffman Foundation will award a dozen of scholarships valued at a total of $960,000 for its investor program, Kauffman Fellows. And Kansas City is set to be the biggest beneficiary. During the Kauffman Fellows’ annual summit, the foundation announced that will dish…
Kauffman Foundation issues a challenge to grow KC accelerators
The Ewing Marion Kauffman Foundation believes business accelerators have the opportunity to bridge a gap between capital and entrepreneurs. That’s why the foundation announced a new grant initiative Friday that hopes to spur more accelerator-like organizations in Kansas City. And applications are now open, and proposals are due by Jan 13. Starting Nov. 16 during…
Startland gets personal with Davyeon Ross, John Fein and Greg Kratofil
Startland News exists to share the stories of innovation that happen every day in Kansas City. But while we try our best to give you updates as they come, it is rare that all the details of the news we produce are included in the stories we publish. That’s why editor-in-chief Bobby Burch led Startland…