SoftBank is selling its South Korea-based venture capital unit, SoftBank Ventures Asia (SBVA), to Singapore-based venture capital firm The Edge of Investor Relations. Financial terms of the deal were not disclosed, but The Edge of Investor Relations aims to complete the acquisition this year.
Last month, SoftBank CEO Masayoshi Son's brother Taizo Son and Mistletoe managing director Atsushi Taira founded The Edge of. SoftBank Ventures Asia has an asset management scale (AUM) of about US$2 billion and has invested in many companies across Asia, including Korean home furnishing app OHouse, Japanese sneaker resale platform SODA, Indonesian cloud kitchen startup Yummy and hyperlocal social commerce company Super. (Techcrunch)
