Vision Fund's bet on Didi Chuxing falls $4 billion into the red

More than one-quarter of the Vision Fund's portfolio is the Japanese group's heavy investment in China's tech sector.

SoftBank’s Vision Fund’s single largest bet on Chinese tech is now $4 billion in the red. This has followed Beijing’s actions against ride-hailing group Didi Chuxing, punishing it for alleged data security lapses on the back of its blockbuster New York listing.

The Vision Fund’s had paid $11.8 billion in 2019 for its 20.1 per cent stake in the taxi app that is now worth $7.8 billion after Chinese regulatory pressure hit Didi’s business prospects, cutting its market value almost in half.

Softbank founder Masayoshi Son has for some time now intended to diversify the group’s  geographical footprint as he acknowledged the