SoftBank to cut startup investments by more than half this year

SoftBank, which invested over $46 billion in startups last fiscal year, may slash the investment amount to half or even a quarter of that this year, chief executive Masayoshi Son said on the earnings call Thursday, the latest high-profile investor to become vocally cautious about opportunities in the private markets amid a global slowdown.  
The move follows a bleak year of performance by the Japanese conglomerate, which reported a loss of about $29 billion on investments at its Vision Fund 1 and Vision Fund 2 for the year ending March 31. 
“It depends on our LTV levels and investment opportun

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