India-born Rajeev Misra will head the Softbank Vision Fund that the Japanese investment company has jointly setup with Saudi Arabia’s Public Investment Fund. Misra, 54, a veteran banker, currently is the head of Strategic Finance at SoftBank Group. According to a TOI report, Misra’s helming the gigantic fund comes just four months after another India-origin executive, Nikesh Arora departed from the company abruptly. Arora’s exit came after he was exonerated by a committee investigating him on charges of conflict of interest and poor investment decisions.
On Friday, Softbank announced the launch of Softbank Vision Fund which it will “seed” with $25 billion in a strategic partnership with Saudi Arabia’s sovereign wealth fund, the Public Investment Fund of the Kingdom of Saudi Arabia, chipping in $45 billion. The remaining amount will be raised from other investors, and the two parties aim to deploy the corpus over next five years.
Before joining Softbank, Misra was the senior managing director and partner at New York-based investment firm Fortress, where he lead debt trading. He was also the global head, credit and emerging markets, Deutsche Bank. A board member of the University of Pennsylvania and MIT’s Sloan School of Management, Misra has a B.S in mechanical engineering and M.S in computer science from the University of Pennsylvania and an MBA from the Sloan School, a profile on the company website says.
In an interview published on SoftBank’s website last year, Misra said, “Masayoshi Son brought me on board to advise on aspects regarding financing, tax, and investment opportunities in financial technology , and also to use my experience of building businesses from scratch which involved recruiting talented individuals globally . I joined because it’s very stimulating and educational to work in a different industry . We are playing a role in the latest industrial revolution that is going on in our planet.”