Softbank Group Corp. · TSE:9984
Softbank — Q1 FY2024 Earnings Presentation
24 slides from Softbank's earnings presentation, August 2024
Slide 1: Investor Briefing: SoftBank Vision & LatAm Funds
QUARTER ENDED JUNE 30, 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: Venture Capital Cycle Remains Under Pressure
PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT S O F T B A NK V I S I O N & L A T A M F U ND S : I NV E S T O R B RI E F I NG 4 Venture Capital Cycle Remains Under Pressure Private Valuations, Excluding AI, Challenged Exit Environment Distributions Hit Decade Low Remain Subdued Median Late-Stage VC V
Slide 5: Quarterly Fair Value Performance
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT 5 QUARTERLY FAIR VALUE PERFORMANCE 1 +$2.8B $(2.6B) $(0.1B) +$0.2B SVF1 SVF2 LATAM COMBINED SOFTBANK VISION & LATAM FUNDS: INVESTOR BRIEFING Quarterly PUBLIC +$1.4B $(1.1B) +$0.0B +$0.4B Performance PRIVATE +$1.4B $(1.5B) $(0.1B) $(0.2B)
Slide 6: Performance Snapshot
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT 6 SoftBank SoftBank SoftBank Vision Fund 1 Vision Fund 2 LatAm Funds Combined5 Total Commitments1 $98.6B $59.8B $7.8B $166.2B SOFTBANK VISION & LATAM FUNDS: INVESTOR BRIEFING Acquisition Cost2 $87.8B $54.2B $7.4B $149.4B Performance Snaps
Slide 7: Public Investments Overview
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT S O F T B A NK V I S I O N & L A T A M F U ND S : I NV E S T O R B RI E F I NG 7 Public Investments Overview Top 10 Public Investments by Fair Value | As of June 30, 2024 QUARTERLY FV NTM CONSENSUS CURRENT PEAK MARKET SVF1 SVF2 LATAM INVE
Slide 8: Coupang & DiDi Update
SVF1 PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT S O F T B A NK V I S I O N & L A T A M F U ND S : I NV E S T O R B RI E F I NG 8 Coupang & DiDi Update As of June 30, 2024 $1.7B $7.3B 20% $12.1B $4.0B 20% Unrealized Cost1 Unrealized Fair Value2 Ownership3 Unrealized Cost1 Unrealized Fair Value2 Ow
Slide 9: Grab & AutoStore Update
SVF1 SVF2 PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT S O F T B A NK V I S I O N & L A T A M F U ND S : I NV E S T O R B RI E F I NG 9 Grab & AutoStore Update As of June 30, 2024 $1.7B $1.4B 10% $2.8B $1.6B 38% Unrealized Cost1 Unrealized Fair Value2 Ownership3 Unrealized Cost1 Unrealized Fair Val
Slide 10: Private Investments Overview
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT S O F T B A NK V I S I O N & L A T A M F U ND S : I NV E S T O R B RI E F I NG 10 Private Investments Overview As of June 30, 2024 SVF1 SVF2 LATAM # Current Investments1 Unrealized Unrealized Unrealized FV2 $27.0B FV2 $25.0B FV2 $4.7B 384
Slide 11: Key Drivers of Private Investment Performance
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT S O F T B A NK V I S I O N & L A T A M F U ND S : I NV E S T O R B RI E F I NG 11 Key Drivers of Private Investment Performance As of June 30, 2024 ByteDance Outperformance Moderating Consumer Sentiment FinTech Re-Rating Revenue ($B) & Re
Slide 12: Revenue Growth of Key Sub-Sectors
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT S O F T B A NK V I S I O N & L A T A M F U ND S : I NV E S T O R B RI E F I NG 12 Revenue Growth of Key Sub-Sectors Top Three Largest Sub-Sectors by Fair Value | As of June 30, 2024 DIGITAL MEDIA ECOMMERCE PAYMENTS Unrealized Cost2 Unreal
Slide 13: Portfolio Companies Continue to be Well-Capitalized
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT 6% 13 <12 Months 9% 12-24 Months SOFTBANK VISION & LATAM FUNDS: INVESTOR BRIEFING Portfolio Companies 17% Portfolio 69% 94% Continue to be >24 Months Companies Cash FCF+ or Sufficient to Portfolio Runways Achieve Well-Capitalized By Fair
Slide 14: A Strong Pipeline for Future Listings
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT S O F T B A NK V I S I O N & L A T A M F U ND S : I NV E S T O R B RI E F I NG 14 A Strong Pipeline for Future Listings As of June 30, 2024 ROBUST LATE-STAGE PIPELINE 51 Cumulative Public Listings Since Inception 1 Value of Late-Stage Por
Slide 15: New Investing Activity Last 12 Months
SVF2 PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT S O F T B A NK V I S I O N & L A T A M F U ND S : I NV E S T O R B RI E F I NG 15 New Investing Activity Last 12 Months Twelve-Month Period1 Ended June 30, 2024 SERIES E SERIES C Offering an AI-powered SERIES E Powering generative AI market and indu
Slide 16: GenAI Adoption is Growing Across the Portfolio
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT S O F T B A NK V I S I O N & L A T A M F U ND S : I NV E S T O R B RI E F I NG 16 GenAI Adoption is Growing Across the Portfolio As of June 30, 2024 SELECT EXAMPLES OF GEN AI USE CASES 3 Rise of Leveraging a GenAI assistant Launched an ad
Slide 17: Operating as One SoftBank
PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT S O F T B A NK V I S I O N & L A T A M F U ND S : I NV E S T O R B RI E F I NG 17 Operating as One SoftBank RECENT SBG INVESTMENTS Shared Vision Common Artificial Intelligence focus Collective Expertise Sharing knowledge and operational capabilities Glob
Slide 18: Appendix
18 Appendix
Slide 19: SVF1 Distributions to Limited Partners
SVF1 S O F T B A NK V I S I O N & L A T A M F U ND S : I NV E S T O R B RI E F I NG 19 SVF1 Distributions to Limited Partners Since Inception to June 30, 2024 Total Distributions (A) (B) (C) (D) (E) = (B)-(C) Fund Drawn Return of Pref Coupon / 3 Outstanding 2 Commitment Capital 1 Capital Equity Gain
Slide 20: SVF1 Contribution to SBG, Net of 3rd Party Interests
SVF1 20 SVF1 2024 Inception to Jun 30 SOFTBANK VISION & LATAM FUNDS: Fund Net Profit2 $9.1 INVESTOR BRIEFING Less: Change in 3rd Party Contribution to Interests in Fund (4.6) SBG, Net of 3rd SBG LP Income: 4.5 Share of Fund Net Profit Party Interests1,3 SBG GP Income: Amounts in USD Billions 1.2 Man
Slide 21: Contribution to SBG: SVF1
SVF1 21 SBG Paid-In Capital1 SOFTBANK VISION & LATAM FUNDS: INVESTOR BRIEFING Contribution $27.7B to SBG SBG Total Value2 As of June 30, 2024 $22.5B $32.2B Net Asset Value3 Distributions4 $9.7B Footnotes: 1. SBG Paid-In Capital represents SBG Commitment drawn down through capital calls less Return o
Slide 22: Contribution to SBG: SVF2
SVF2 22 SBG Paid-In Capital1 SOFTBANK VISION & LATAM FUNDS: INVESTOR BRIEFING Contribution $56.0B to SBG SBG Total Value2 As of June 30, 2024 $24.0B $33.0B Net Asset Value3 Distributions4 $9.0B Footnotes: 1. SBG Paid-In Capital represents SBG Commitment drawn down through capital calls less Return o
Slide 23: Contribution to SBG: LatAm
LATAM 23 SBG Paid-In Capital1 SOFTBANK VISION & LATAM FUNDS: INVESTOR BRIEFING Contribution $7.1B to SBG SBG Total Value2 As of June 30, 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 24: Thank You
24 Thank You SoftBank Vision & LatAm Funds Investor Briefing Presentations Available at visionfund.com/presentations