The world’s biggest startup investor will push on with job creation and new companies in Saudi Arabia despite two major global setbacks, its chief executive said.
Vision Fund will tighten up governance procedures and slow the pace of initial public offerings (IPOs) in the wake of the WeWork debacle and the disappointing market performance of Uber, said Rajeev Misra, head of SoftBank Investment Advisers, which manages the $100 billion fund.
管理着1千亿美元基金的软银投资顾问公司的负责人Rajeev Misra说，在WeWork已然崩溃的局面下和Uber令人失望的市场表现之后，愿景基金（Vision Fund）将收紧管理程序，放慢首次公开募股（IPO)的步伐。
In an exclusive interview before the Future Investment Initiative gathering in Riyadh this week, Misra said that the fund had learned lessons from the abortive IPO of WeWork, the US-based office sharing company. “Sometimes portfolio companies need to incubate for longer,” he said.
本周，未来投资计划大会（Future Initiative Investment) 将在利雅得召开。在此之前，Misra接受了单独采访，他表示，该基金已从基于美国的办公分享公司WeWork流产的IPO中吸取了教训。他说：“有时，投资组合公司需要更长时间的孵化。”
The major Vision Fund investors in the Middle East are the Public Investment Fund of Saudi Arabia and Mubadala of the UAE. SoftBank has about 14 portfolio companies that are considering opening or expanding in the Kingdom, including construction group Katerra and hotels business Oyo.
“The investment objective of the Vision Fund for Saudi Arabia is beyond financial performance,” Misra said. “We have a focused program of portfolio company expansion in the Kingdom, and we are already seeing evidence of that in terms of company establishment which is in turn leading to economic development and job creation.”
Vision Fund has returned $6.4 billion to investors in its first two years of operations, including a $2.9 billion gross gain on US technology group Nvidia and a $1.3 billion profit on Indian e-commerce company Flipkart.
愿景基金在运营的前两年已经向投资者返还了64亿美元，其中包括美国科技集团Nvidia 29亿美元的总收益，以及印度电子商务公司Flipkart 13亿美元的利润。
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