SoftBank Group is mulling over plans to liquidate its stake in investment bank Raine Group.
The move comes as the Japanese venture firm restructures its investment strategy to focus on core areas, including telecommunications and smaller investments, per Bloomberg.
- Former Goldman Sachs partner Joseph Ravitch and former UBS banker Jeffrey A. Sine launched Raine Group in 2010.
- SoftBank founder and CEO Masayoshi Son took an undisclosed minority stake in the firm shortly after its launch.
- Raine Group advised SoftBank on several transactions, including the $200M acquisition of ARM Holdings.
- However, SoftBank recently incurred losses after a rout in technology markets and failed private bets such as DoorDash and SenseTime, forcing it to slow its investments abruptly.
- To minimize the losses, SoftBank liquidated a part of its stake in Alibaba Group last year.
- On the other hand, SoftBank is planning to up its stake in robotics firm Berkshire Grey, with the intent of owning 100% of outstanding shares.
