Rajeev Misra
Photo:
mike blake/Reuters
Rajeev Misra,
who runs
SoftBank
9984 0.84%
Group Corp.’s giant venture-investing arm, will step back from his role to run a new outside investment outfit, according to a company memo.
Mr. Misra came to SoftBank in 2014 and helped turn it into the biggest and most controversial technology investor in the world. With an unrivaled $100 billion to spend and a cutthroat internal culture that led to poor investment decisions, it was almost single-handedly responsible for pumping up valuations across Silicon Valley and beyond.
Mr. Misra will stay on in a reduced capacity at SoftBank, overseeing the original Vision Fund investments, while stepping back from oversight of its successor, Vision Fund 2, according to the memo, which was signed by SoftBank’s founder Masayoshi Son.
His changed role would follow those of several other senior SoftBank executives in recent months and deplete Mr. Son’s bench at a time when his investment empire is under pressure from the downdraft in technology valuations.
Mr. Misra didn’t immediately respond to requests for comment.
More to follow.
Write to Eliot Brown at [email protected]
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