Softbank Group Corp. · TSE:9984
Softbank — Q2 FY2021 Earnings Presentation
32 slides from Softbank's earnings presentation, November 2021
Slide 1: SoftBank Vision Funds Update
QUARTER ENDED SEPTEMBER 30, 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: Powering the Innovation Supercycle
Slide 5: Progress & Highlights
Progress & Highlights == OoftBank Investment Advisers
Slide 6: Steady Growth in Assets Under Management
SVF1 SVF2 P RO G RE S S & H I G H L I G H T S 6 Steady Growth in Assets Under Management Assets Under Management Since Inception SEP 2021 AUM1 Regulatory SVF1 $138.1B Developments SVF2 $37.9B SEP 2021 Launch of SVF2 COVID-19 $176.0B Pandemic TOTAL AUM2 SVF2 $0.0B Launch of SVF1 SVF1 $0.0B Mar-17 Sep
Slide 7: Key Developments
SVF1 SVF2 P RO G RE S S & H I G H L I G H T S 7 Key Developments Three-Month Period Ended September 30, 2021 New Private Capital Fund Investments1 Up-Rounds2 Invested3 Distributions4 67 11 $14.0B $9.8B SVF1 SVF2 SVF1 SVF2 SVF1 SVF2 SVF1 SVF2 - 67 4 7 $0.3B $13.7B $8.7B $1.1B Footnotes: 1. New Invest
Slide 8: 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 8 SVF2 Continues to Invest in the AI Revolution Inception to As of September 30, 2021 September 30, 2021 Total Fair Select New Investments1 Value2 Cumulative $4.7B Investment Gains3 $33.2B Acquisition Cost3 September 2021 Footnotes: 1. Select New Investments
Slide 9: SVF2 Portfolio Overview
SVF2 P RO G RE S S & H I G H L I G H T S 9 SVF2 Portfolio Overview Since Inception to September 30, 2021 PORTFOLIO COST BY SECTOR (%) 158 1 Consumer Fintech Logistics Edtech Frontier Tech Total Investment Investments1 Exited2 Proptech Enterprise Health Tech Transportation PORTFOLIO COST BY GEOGRAPHY
Slide 10: Listings Since Inception
SVF1 SVF2 P RO G RE S S & H I G H L I G H T S 10 Listings Since Inception 5.8x As of September 30, 2021 GROSS 4.0x 1.8x 2.0x MOIC 1 10.9x 17.8x 1.4x 0.3x 0.6x 25 8.8x 3.0x 0.2x 2.0x B IK 3.1x 0.8x 0.3x 0.9x Total Listings Since Inception of the Funds2 0.7x 2.1x 1.4x 4.9x 0.9x 2.9x 1.4x 1.0x 1.6x 201
Slide 11: Portfolio Evolution
11 Exited1 Public2 $138.1B Private3 $30.8B $92.6B SVF1 $13.9B PROGRESS & HIGHLIGHTS $12.0B $44.3B Represents Combined Represents Exited & Public Portfolio Combined Fair Value4 Exited & Public Fair Value4 Evolution $66.7B $63.0B By Fair Value Sep 2020 Sep 2021 Footnotes: 1. Exited represents the Gros
Slide 12: Subsequent Listings
12 TICKER NASDAQ:ROIV NASDAQ:AUR NYSE:WE SVF1 SVF2 IPO DATE October 1, 2021 November 4, 2021 October 21, 2021 PROGRESS & HIGHLIGHTS MARKET $5.6B $11.2B $7.9B Subsequent CAP1 Listings As of November 05, 2021 TICKER NYSE:IONQ NASDAQ:EXAI OSE:AUTO IPO DATE October 1, 2021 October 1, 2021 October 20, 20
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 September 30, 2021 11 Funding Rounds1 Common Equity Series H Series I Series C Series F Series F $3.4B Capital Raised $23B+ Series H Series F Series H Series D Series F Total
Slide 14: Steadily Growing Distributions
SVF1 P RO G RE S S & H I G H L I G H T S 14 Steadily Growing Distributions Inception to September 30, 2021 SVF1 Launch MAY 2017 2017 Sep 2018 Sep 2019 Sep 2020 Sep 2021 Footnotes: 1. Cumulative Distributions include proceeds from Investment Realizations and Preferred Equity Coupon distributed to Lim
Slide 15: Distributions to Limited Partners
SVF1 P RO G RE S S & H I G H L I G H T S 15 Distributions to Limited Partners Since Inception to September 30, 2021 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 5 Preferred Equity $40.0B $35.7
Slide 16: Performance Snapshot
SVF1 SVF2 16 SoftBank SoftBank Vision Fund 1 Vision Fund 2 Combined Total Commitment $98.6B $51.0B $149.6B Effective October 21, 2021 PROGRESS & HIGHLIGHTS Performance Acquisition Cost1 $86.7B $33.2B $119.9B Snapshot Cumulative $51.4B $4.7B $56.1B Investment Gains1 As of September 30, 2021 Total Fai
Slide 17: Performance & Impact on SoftBank Group (SBG)
17 Performance & Impact on SoftBank Group (SBG)
Slide 18: SVF1 Contribution to SBG, Net of 3rd Party Interests
18 SVF1 2021 Inception to Sep 30 SVF1 Fund Net Profit2 $34.8 PERFORMANCE & IMPACT ON SBG Less: Change in 3rd Party Contribution to Interests in Fund (17.0) SBG, Net of 3rd SBG LP Income: 17.8 Share of Fund Net Profit Party Interests1,3 SBG GP Income: Amounts in USD Billions 8.9 Management & Performa
Slide 19: Contribution to SBG, Realized and Unrealized Values
19 SBG Paid-In Capital4 SVF1 PERFORMANCE & IMPACT ON SBG Contribution to SBG, Realized and SBG Total Value5 Net Asset Value1 Unrealized Values (Unrealized Value) Distributions2 As of September 30, 2021 (Realized Value) Accrued & Paid Performance Fees3 Footnotes: 1. Net Asset Value includes net chang
Slide 20: Contribution to SBG, Realized and Unrealized Values
20 SBG Paid-In Capital4 SVF2 PERFORMANCE & IMPACT ON SBG Contribution to SBG, Realized and SBG Total Value5 Net Asset Value1 Unrealized Values (Unrealized Value) Distributions2 As of September 30, 2021 (Realized Value) Accrued Performance Fees3 Footnotes: 1. Net Asset Value includes net changes in f
Slide 21: In Focus: Powering the Innovation Supercycle
21 In Focus: Powering the Innovation Supercycle
Slide 22: Growth Equity is Today's Preferred Asset Class
P O WE RI NG T H E I NNO V A T I O N S U P E RC YC L E 22 Growth Equity is Today’s Preferred Asset Class Significant Growth in the Number of Unicorns Growth Funds Outpace Other Asset Classes Global Unicorn Count1 % Growth in Dry Powder, 2020 vs. 20102 832 113% 114% 127% 235% 244% Real Estate Buyout
Slide 23: Accelerating Innovation
P O WE RI NG T H E I NNO V A T I O N S U P E RC YC L E 23 Accelerating Innovation We believe our growth equity platform is well-positioned to meet the demand for capital and expertise Consumer Edtech Enterprise Health Tech Fintech Transportation Frontier Tech Logistics Proptech New Businesses & Inno
Slide 24: Powering the Innovation Supercycle
SVF2 P O WE RI NG T H E I NNO V A T I O N S U P E RC YC L E 24 Powering the Innovation Supercycle GROWTH EQUITY SVF2 Early Growth Late Growth Equity Investor INVESTMENT STRATEGY Stage Stage Stage Development Early Growth Accelerated Growth Average Investment Size $100mm - $200mm Product Investment i
Slide 25: Innovative & Disruptive Opportunities
SVF2 P O WE RI NG T H E I NNO V A T I O N S U P E RC YC L E 25 Innovative & Disruptive Opportunities Retail Logistics Cybersecurity Proptech Talent Solutions Health Tech eCommerce Fintech Edtech Autotech The information herein is provided solely for illustrative purposes, reflects the current belief
Slide 26: Envisioning the Future of Retail and Supply Chains
SVF2 P O WE RI NG T H E I NNO V A T I O N S U P E RC YC L E 26 Envisioning the Future of Retail and Supply Chains As of September 30, 2021 Computer Vision & IoT Applications in Retail 1 IoT sensor-as-a-service Leading autonomous checkout Serves the world’s largest platform working to solution for br
Slide 27: Protecting Companies and Consumers
SVF2 P O WE RI NG T H E I NNO V A T I O N S U P E RC YC L E 27 Protecting Companies and Consumers As of September 30, 2021 Global Impact of Cybercrime Manages company privacy, AI-driven fraud prevention and Cyber defense platform security and governance2 bot management software3 and managed services
Slide 28: Powering Data-Driven Talent Solutions
SVF2 P O WE RI NG T H E I NNO V A T I O N S U P E RC YC L E 28 Powering Data-Driven Talent Solutions As of September 30, 2021 U.S. Job Openings (mm) vs. Unemployment Rate (%)1 20 7.8 8 Global platform for hiring and managing top, remote technical talent 18 6.7 7 16 6 5.9 Talent intelligence platform
Slide 29: Delivering Next Generation eCommerce
SVF2 P O WE RI NG T H E I NNO V A T I O N S U P E RC YC L E 29 Delivering Next Generation eCommerce As of September 30, 2021 Global eCommerce Sales Worldwide ($T)1 One of India’s leading social One of Turkey’s leading Acquirer and operator of third- commerce platform2 eCommerce platform3 party eComm
Slide 30: Fueling Transformation in Autotech
SVF2 P O WE RI NG T H E I NNO V A T I O N S U P E RC YC L E 30 Fueling Transformation in Autotech As of September 30, 2021 Used Car Sales Outpace New Car Sales, with Southeast Asia’s largest India’s largest used Autotech Platforms Offering a Differentiated, automotive marketplace2 car buying platfor
Slide 31: Our Investment Platform is Powering the Innovation Supercycle
SVF2 P O WE RI NG T H E I NNO V A T I O N S U P E RC YC L E 31 Our Investment Platform is Powering the Innovation Supercycle Frontier Tech Proptech Transportation Enterprise Health Tech EdTech Consumer Logistics FinTech Internet of Things Construction Tech Auto Marketplaces Computer Vision Digital H
Slide 32: Thank You
32 Thank You SoftBank Vision Funds Investor Briefing Presentations Available at visionfund.com/presentations