Softbank Group Corp. · TSE:9984
Softbank — Q4 FY2023 Earnings Presentation
22 slides from Softbank's earnings presentation, May 2024
Slide 1: Investor Briefing: SoftBank Vision & LatAm Funds
QUARTER ENDED MARCH 31, 2024 Investor Briefing SoftBank Vision & LatAm Funds NAVNEET GOVIL CFO, SB Investment Advisers & SB Global Advisers
Slide 2: Important Information (1 of 2)
2 Important Information (1 of 2) This presentation (this “Presentation”) is furnished to you for informational purposes in connection with the interests of SoftBank Group Corp. (together with its affiliates, “SoftBank”) in SoftBank Vision Fund L.P. (together with, as the context may require, any par
Slide 3: Important Information (2 of 2)
3 Important Information (2 of 2) Vision Fund 1 performance herein is based on unrealized valuations of portfolio investments. Valuations of unrealized investments are based on assumptions and factors (including, for example, as of the date of the valuation, average multiples of comparable companies,
Slide 4: VC Funding Remains Low Amid Macro Uncertainty
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT SOFTBANK VISION & LATAM FUNDS: INVESTOR BRIEFING 4 VC Funding Remains Low Amid Macro Uncertainty Inflation Has Moderated, Yet History Suggests Caution Venture Capital Deal Funding Remains Subdued US CONSUMER PRICE INDEX, YoY % CHANGE1 DEC
Slide 5: FY2023 Combined Funds Performance
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT SOFTBANK VISION & LATAM FUNDS: INVESTOR BRIEFING 5 FY2023 Combined Funds Performance Fiscal Year Ended March 31, 2024 FY2023 VISION & LATAM FUNDS PERFORMANCE Quarterly Fair Value Performance1 +$4.0B +$4.5B Fair Value Gain FY2023 +$0.8B +$
Slide 6: Quarterly Fair Value Performance
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT 6 QUARTERLY FAIR VALUE PERFORMANCE1 +$0.0B $(0.5B) $(0.0B) $(0.5B) SOFTBANK VISION & LATAM FUNDS: SVF1 SVF2 LATAM COMBINED INVESTOR BRIEFING Quarterly PUBLIC +$0.2B $(0.4B) +$0.1B $(0.1B) Performance PRIVATE $(0.1B) $(0.1B) $(0.2B) $(0.4B
Slide 7: Public Investments Overview
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT SOFTBANK VISION & LATAM FUNDS: INVESTOR BRIEFING 7 Public Investments Overview Top 10 Public Investments by Fair Value | As of March 31, 2024 SVF1 SVF2 QUARTERLY FV NTM CONSENSUS CURRENT PEAK MARKET INVESTMENT FV ($B)2 CHANGE ($MM)4 REVEN
Slide 8: Private Investments Overview
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT SOFTBANK VISION & LATAM FUNDS: INVESTOR BRIEFING 8 Private Investments Overview As of March 31, 2024 SVF1 SVF2 LATAM # Current Investments1 Unrealized Unrealized Unrealized $25.8B $26.0B $4.8B 382 FV2 FV2 FV2 Quarterly FV Quarterly FV Qua
Slide 9: Performance Snapshot
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT 9 SoftBank SoftBank SoftBank Vision Fund 1 Vision Fund 2 LatAm Funds Combined Total Commitments1 $98.6B $59.8B $7.8B $166.2B SOFTBANK VISION & LATAM FUNDS: INVESTOR BRIEFING Acquisition Cost2 $87.8B $53.6B $7.4B $148.8B Performance Snapsh
Slide 10: ByteDance Update
SVF1 PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT SOFTBANK VISION & LATAM FUNDS: INVESTOR BRIEFING 10 ByteDance Update As of May 7, 2024 OUR OBSERVATIONS T I ME L INE O F K E Y R E GU L AT O R Y D E VE L O P ME NT S 1 Significant uncertainty remains with respect to US AUGUST SEPTEMBER JUNE MARCH AP
Slide 11: Portfolio Companies Focused on Capital Efficient Growth
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT SOFTBANK VISION & LATAM FUNDS: INVESTOR BRIEFING 11 Portfolio Companies Focused on Capital Efficient Growth As of March 31, 2024 CAPITAL EFFICIENT GROWTH STRONG CASH POSITION Portfolio Companies Revenue Growth Portfolio Companies with 12+
Slide 12: M&A is Enabling Growth & Exits
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT SOFTBANK VISION & LATAM FUNDS: INVESTOR BRIEFING 12 M&A is Enabling Growth & Exits As of March 31, 2024 S T R AT E GI C E X I T S M&A TRANSACTIONS TRANSACTION HIGHLIGHTS 14 1.7x + Combined Company Valued at $7B # S TR AT E GI C E X I T S
Slide 13: A Strong Pipeline for Future Listings
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT SOFTBANK VISION & LATAM FUNDS: INVESTOR BRIEFING 13 A Strong Pipeline for Future Listings As of March 31, 2024 ROBUST LATE-STAGE PIPELINE Value of Late-Stage Portfolio2 $32B CURRENT FAIR VALUE, SERIES E OR LATER2 SVF1 SVF2 LATAM 50 LISTIN
Slide 14: Continued Conviction in our India Portfolio
SVF1 SVF2 PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT SOFTBANK VISION & LATAM FUNDS: INVESTOR BRIEFING 14 Continued Conviction in our India Portfolio As of March 31, 2024 KEY METRICS 23 Investments $11.7B Total Acquisition Cost 1 $13.9B Total Fair Value 2 VISION FUND COMPANIES LEAD CAPITAL SVF1 MA
Slide 15: Our Investing Principles
SVF1 SVF2 LATAM 15 Our Investing V AL UE CREATI ON Principles TOP 10 INVESTMENTS BY TOTAL FV1 Vision Conviction SVF1 2031 ION 7-10 Years of INV SVF2 2034 Patience Remaining Fund Life5 AT LATAM 2034 ES IZ TI ET N N G O M 64 # Public Listings & Strategic Exits2 $32B Late-Stage Pipeline3 $72B+ Gross Pr
Slide 16: Appendix
16 Appendix == OoftBank Investment Advisers
Slide 17: SVF1 Distributions to Limited Partners
SVF1 SOFTBANK VISION & LATAM FUNDS: INVESTOR BRIEFING 17 SVF1 Distributions to Limited Partners Since Inception to March 31, 2024 Total Distributions (A) (B) (C) (D) (E) = (B)-(C) Fund Drawn Return of Pref Coupon / 3 Outstanding 2 Commitment Capital 1 Capital Equity Gains 4 Capital Preferred Equity
Slide 18: SVF1 Contribution to SBG, Net of 3rd Party Interests
SVF1 18 SVF1 2024 Inception to Mar 31 SOFTBANK VISION & LATAM FUNDS: Fund Net Profit2 $6.5 INVESTOR BRIEFING Less: Change in 3rd Party Contribution to Interests in Fund (3.3) SBG, Net of 3rd SBG LP Income: 3.2 Share of Fund Net Profit Party Interests1,3 SBG GP Income: Amounts in USD Billions 1.2 Man
Slide 19: SVF1 Contribution to SBG
SVF1 19 SBG Paid-In Capital1 SOFTBANK VISION & LATAM FUNDS: INVESTOR BRIEFING Contribution $27.7B to SBG SBG Total Value2 As of March 31, 2024 $21.2B $30.9B Net Asset Value3 Distributions4 $9.7B Footnotes: 1. SBG Paid-In Capital represents SBG Commitment drawn down through capital calls less Return
Slide 20: SVF2 Contribution to SBG
SVF2 20 SBG Paid-In Capital1 SOFTBANK VISION & LATAM FUNDS: INVESTOR BRIEFING Contribution $55.7B to SBG SBG Total Value2 As of March 31, 2024 $26.3B $35.3B Net Asset Value3 Distributions4 $9.0B Footnotes: 1. SBG Paid-In Capital represents SBG Commitment drawn down through capital calls less Return
Slide 21: LatAm Contribution to SBG
LATAM 21 SBG Paid-In Capital1 SOFTBANK VISION & LATAM FUNDS: INVESTOR BRIEFING Contribution $7.1B to SBG SBG Total Value2 As of March 31, 2024 $5.7B $6.1B Net Asset Value3 Distributions4 $0.4B Footnotes: 1. SBG Paid-In Capital represents SBG Commitment drawn down through capital calls less Return of
Slide 22: Thank You
22 Thank You SoftBank Vision & LatAm Funds Investor Briefing Presentations Available at visionfund.com/presentations