Softbank Group Corp. · TSE:9984
Softbank — Q3 FY2021 Earnings Presentation
31 slides from Softbank's earnings presentation, February 2022
Slide 1: SoftBank Vision Funds Update
QUARTER ENDED DECEMBER 31, 2021 SoftBank Vision Funds Update NAVNEET GOVIL Managing Partner & Chief Financial Officer SoftBank Investment 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 I 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: Topics
4 Topics 01- Progress & Highlights 02- Performance & Impact on SoftBank Group (SBG) 03- In Focus: IPOs & Value Creation in a Maturing Portfolio
Slide 5: Progress & Highlights
Progress & Highlights == OoftBank Investment Advisers
Slide 6: Performance Snapshot
SVF1 SVF2 6 SoftBank SoftBank Vision Fund 1 Vision Fund 2 Combined Total Commitment $98.6B $51.0B $149.6B PROGRESS & HIGHLIGHTS Performance Acquisition Cost1 $87.2B $42.4B $129.6B Snapshot Cumulative $51.3B $5.6B $56.9B Investment Gains1 As of December 31, 2021 Total Fair Value2 $138.5B $48.0B $186.
Slide 7: SVF2 Continues to Invest in the AI Revolution
SVF2 P RO G RE S S & H I G H L I G H T S 7 SVF2 Continues to Invest in the AI Revolution Inception to As of December 31, 2021 December 31, 2021 Total Fair Select New Investments1 Value2 Cumulative $5.6B Investment Gains3 Total $42.4B Acquisition Cost3 Footnotes: 1. Select New Investments logos are f
Slide 8: SVF2 Portfolio Overview
SVF2 P RO G RE S S & H I G H L I G H T S 8 SVF2 Portfolio Overview As of December 31, 2021 PORTFOLIO COST BY SECTOR (%) 209 1 Logistics Frontier Tech Consumer Transportation Enterprise Total Investment Investments1 Exited2 Edtech Proptech Health Tech Fintech PORTFOLIO COST BY GEOGRAPHY ($B) 195 13 $
Slide 9: A Broad & Diverse Set of New Listings
SVF1 SVF2 P RO G RE S S & H I G H L I G H T S 9 A Broad & Diverse Set of New Listings Three-Month Period Ended December 31, 2021 SVF1 NE W L I S T I NG S B Y G E O G RA P H Y 1 SVF2 SVF1 SVF1 New Listings SVF2 SVF2 AMERICAS EUROPE ASIA New Listings Footnotes: 1. New Listings by Geography categorized
Slide 10: A Series of IPO Milestones
SVF1 SVF2 P RO G RE S S & H I G H L I G H T S 10 A Series of IPO Milestones Three-Month Period Ended December 31, 2021 Develops transformative medicines faster by building technologies5 Actively applies AI to precision engineer medicines more rapidly5 1st publicly traded Norway’s most PolicyBazaar r
Slide 11: Listings Continue to Unlock Value
SVF1 SVF2 P RO G RE S S & H I G H L I G H T S 11 Listings Continue to Unlock Value Portfolio IPO Market Listing Company Proceeds4 Capitalization5 Exchange Three-Month Period Ended December 31, 2021 $0.4B $6.9B NASDAQ $1.0B $12.7B NASDAQ $0.8B $5.7B NSE SVF1 $2.5B $11.6B NSE SVF1 SVF2 $22.4B $4.5B $2
Slide 12: Portfolio Evolution
12 Exited1 Public2 Private3 TOTAL FAIR VALUE $138.5B (REALIZED & UNREALIZED) $34.0B SVF2 SVF1 PROGRESS & HIGHLIGHTS $48.0B Represents Portfolio $1.4B $47.7B Combined Exited & Public Fair Value4 Evolution $11.6B Represents Combined Exited & Public Fair Value4 As of December 31, 2021 $35.0B $56.8B SVF
Slide 13: Our Portfolio Companies Continue to Attract Capital
SVF1 SVF2 P RO G RE S S & H I G H L I G H T S 13 Our Portfolio Companies Continue to Attract Capital Three-Month Period Ended December 31, 2021 10 Funding Rounds1 Series H (Common) Extended & Secondaries Series E/F Series H Series D Series D $3.2B Capital Raised UNDISCLOSED INVESTMENT $22B+ Series E
Slide 14: Combination with Symbotic, an AI-Enabled Supply Chain Platform
SVF2 PROGRESS & HIGHLIGHTS 14 Combination with Symbotic, an AI-Enabled Supply Chain Platform SVF Investment Corp. 3 (SVFC)1 Announced a Definitive Merger Agreement on December 13, 2021 Pro Forma Total SVF2 Expected Transaction Enterprise Value Proceeds Commitment3 Closing Date Overview1 $4.8B $725mm
Slide 15: Performance & Impact on SoftBank Group (SBG)
15 Performance & Impact on SoftBank Group (SBG)
Slide 16: SVF1 Contribution to SBG, Net of 3rd Party Interests
16 SVF1 2021 Inception to Dec 31 SVF1 Fund Net Profit2 $34.4 PERFORMANCE & IMPACT ON SBG Less: Change in 3rd Party Contribution to Interests in Fund (16.8) SBG, Net of 3rd SBG LP Income: 17.6 Share of Fund Net Profit Party Interests1,3 SBG GP Income: Amounts in USD Billions 8.9 Management & Performa
Slide 17: Contribution to SBG (SVF1)
17 SBG Paid-In Capital4 SVF1 PERFORMANCE & IMPACT ON SBG Contribution to SBG SBG Total Value5 Net Asset Value1 As of December 31, 2021 Distributions2 Accrued & Paid Performance Fees3 Footnotes: 1. Net Asset Value includes net changes in fair value of financial assets at fair value through profit or
Slide 18: Contribution to SBG (SVF2)
18 SBG Paid-In Capital4 SVF2 PERFORMANCE & IMPACT ON SBG Contribution to SBG SBG Total Value5 Net Asset Value1 As of December 31, 2021 Distributions2 Accrued Performance Fees3 Footnotes: 1. Net Asset Value includes net changes in fair value of financial assets at fair value through profit or loss (F
Slide 19: In Focus: IPOs & Value Creation in a Maturing Portfolio
19 In Focus: IPOs & Value Creation in a Maturing Portfolio
Slide 20: Consistent Demand for Public Listings
I P O S & V A L U E C RE A T I O N I N A M A T U RI NG P O RT F O L I O 20 Consistent Demand for Public Listings NUMBER OF GLOBAL VISION FUNDS DEAL LISTINGS PER QUARTER 1 PORTFOLIO COMPANIES Well Capitalized Strong Fundamentals 800 Established Track Record 600 400 200 0 2001 2010 2020 2021 Global Fi
Slide 21: Growing Track Record of Public Listings
SVF1 SVF2 I P O S & V A L U E C RE A T I O N I N A M A T U RI NG P O RT F O L I O 21 Growing Track Record of Public Listings As of December 31, 2021 36 SVF1 Total Listings Since Inception of the Funds2 SVF2 Total Listings Since 36 Inception of the Funds1 B IK LISTING YEAR 2017 2018 2019 2020 2021 Fo
Slide 22: Unlocking Investment Gains in Our Public Portfolio
22 TOTAL REALIZED & UNREALIZED GAIN (PUBLIC PORTFOLIO) SVF1 SVF2 $87.0B SVF1 SVF2 +$33.6B IPOS & VALUE CREATION IN A MATURING PORTFOLIO $13.0B CUMULATIVE Unlocking INVESTMENT GAINS 1 $53.4B Investment Gains in $8.6B Our Public Portfolio $74.0B Since Inception to December 31, 2021 $44.8B Cost1 Fair V
Slide 23: IPOs and the Value Creation Flywheel
I P O S & V A L U E C RE A T I O N I N A M A T U RI NG P O RT F O L I O 23 IPOs and the Value Creation Flywheel As of December 31, 2021 SVF1 SVF2 OTHER UNDISCLOSED INVESTMENTS Total FV, Series E or Later OTHER UNDISCLOSED INVESTMENTS The information herein is provided solely for illustrative purpose
Slide 24: Empowering the Next Generation
I P O S & V A L U E C RE A T I O N I N A M A T U RI NG P O RT F O L I O 24 Empowering the Next Generation Portfolio Company Holistic & In-Depth Knowledge of the Businesses IPO Support Patient Unparalleled Capital Ecosystem Insights Across Multiple Guidance on Paths to Listing Sectors & Geographies I
Slide 25: Maximizing Long-Term Shareholder Value
25 Broader Access to Long-Term Capital IPOS & VALUE CREATION IN A MATURING Strong PORTFOLIO Operating & Corporate Financial Discipline Governance Maximizing Long-Term Shareholder Value Future Growth & Reputation Trajectory & Brand Transparency & Financial Reporting There can be no assurance that the
Slide 26: Raising Capital Drives a Virtuous Cycle of Growth and Progress
I P O S & V A L U E C RE A T I O N I N A M A T U RI NG P O RT F O L I O 26 Raising Capital Drives a Virtuous Cycle of Growth and Progress Inception to December 31, 2021 AI-Powered Business Models and Strong Fundamentals Track Record of Capital Raising via Listings, Supported by are a Potent Combinat
Slide 27: Going Public Provides Flexible and Efficient Capital
I P O S & V A L U E C RE A T I O N I N A M A T U RI NG P O RT F O L I O 27 Going Public Provides Flexible and Efficient Capital Broader Access to Long-Term Capital Debt Offering All Stock M&A 1 2 Convertible Senior Note Acquisition of Use of Proceeds Strategy Net proceeds to be used for To build a g
Slide 28: Strong Governance Enhances Shareholder Confidence
IPOS & VALUE CREATION IN A MATURING PORTFOLIO 28 Strong Governance Enhances Shareholder Confidence Number of Independent Directors Added Post-IPO Board Composition STRONG to the Board prior to IPO1 (2010 -2018) GOVERNANCE Majority Independent n=47 3 (within 12 months of IPO) 27% Average Gender Diver
Slide 29: Operational & Financial Discipline for a Sustainable Business
I P O S & V A L U E C RE A T I O N I N A M A T U RI NG P O RT F O L I O 29 Operational & Financial Discipline for a Sustainable Business Operational & Financial Enable Better Mitigate Optimize Discipline Pre and Post IPO1 Decision-Making Risks Performance Business Model Strength Efficient Financial
Slide 30: FinConnect: Empowering the Next Generation of Listed Companies
I P O S & V A L U E C RE A T I O N I N A M A T U RI NG P O RT F O L I O 30 FinConnect: Empowering the Next Generation of Listed Companies A Global Network for CFOs of SoftBank Vision Fund Portfolio Companies Our 2nd Annual CFO Summit was held in Los Angeles, CA in November 2021 FINCONNECT 2021 THEME
Slide 31: Thank You
31 Thank You SoftBank Vision Funds Investor Briefing Presentations Available at visionfund.com/presentations