by

SoftBank Ventures Invests in Fourth Israeli Startup, Venture Partner Says

Once completed, the transaction will bring the fund’s total investment in Israeli companies to about $20 million, according to Benjamin Weiss, venture partner at SoftBank Ventures Asia

Meir Orbach 15:3803.01.19

SoftBank Ventures Asia, an early stage investment fund set up by Japanese telecommunication company SoftBank Group Corporation, is nearing completion of an investment in a yet undisclosed Israeli startup, Benjamin Weiss, a venture partner at SoftBank Ventures Asia, said in a phone interview with Calcalist Thursday. Once completed, the fund’s fourth investment in an Israeli company will bring its total investment in local companies to about $20 million, Weiss added.

For daily updates, subscribe to our newsletter by clicking here.

The fund was known as SoftBank Ventures Korea until Wednesday, when it announced a rebranding. The rebranding is part of the fund’s strategy to increase its activity worldwide, and specifically in Asia. SoftBank Ventures Asia has over $1.1 billion under management, according to company statements.

Softbank founder and CEO Masayoshi Son. Photo: Bloomberg

Israel is one of SoftBank Ventures Asia’s top markets for artificial intelligence, robotics, and internet-of-things (IoT) technologies, and more investments are to be expected within the next few years, Weiss said.