telecom conglomerate: With more than 93 billion committed, the fund which includes Qualcomm Inc., Foxconn Technology Group and Sharp Corp. aims to reach 100 billion within six months, Soft Bank said in a statement Saturday, according to The Japan Times. Mubadala committed 15 billion, according to a separate statement. The telecom conglomerate is investing 28 billion and has agreements with Saudi Arabia's Public Investment Fund, Abu Dhabi's Mubadala Investment Co. and Apple Inc. The Vision Fund will seek long-term investments in businesses aimed at innovation. By tapping outside investors, billionaire Son will be able to cut more ambitious deals than he could on his own. Soft Bank has relied on borrowing and earnings from its domestic telecom operations to pay for investments in startups in India, the United States and China while dealing with losses at U.S. subsidiary Sprint Corp.
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