Softbank Group Corp. · TSE:9984
Softbank — Q3 FY2024 Earnings Presentation
28 slides from Softbank's earnings presentation, February 2025
Slide 1: Investor Briefing: SoftBank Vision & LatAm Funds
QUARTER ENDED DECEMBER 31, 2024 Investor Briefing SoftBank Vision & LatAm Funds NAVNEET GOVIL CFO, SB Investment Advisers & SB Global Advisers
Slide 2: Important Information (1 of 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 paral
Slide 3: Important Information (2 of 2)
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, a
Slide 4: Long-Term Investor In AI Revolution
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT Long-Term Investor In AI Revolution 7+ Y E AR S OF CAPITAL D E PL OY M E N T 5- 10 Y E AR S R E M AIN IN G FU N D L IFE 2 Key Milestones & Select Investments1 SVF2 LATAM SVF1 Funds 2024 Launch We want to contribute to the Fund Launch 2019
Slide 5: 2024 Look Back
PERFORMANCE UPDATE 2024 Look Back GLOBAL MARKETS US Inflation2 Interest Rates3 Moderating inflation and start of Fed rate cut cycle Year-over-Year Change in Midpoint of the Federal Funds the US Consumer Price Index Target Range Soft landing realized in major economies 4.4% IPO and M&A activity remai
Slide 6: Stable Growth in Total Fair Value
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT Stable Growth in Total Fair Value Twelve-Month Period Ended December 31, 2024 2024 VISION & LATAM FUNDS PERFORMANCE $151.9B $151.2B Total Fair Value1 Quarterly Fair Value Change2 $147.0B +$4.3B +$1.5B $146.2B Fair Value Gain Last 4 Quarte
Slide 7: Performance Snapshot
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT SoftBank SoftBank SoftBank Vision Fund 1 Vision Fund 2 LatAm Funds Combined4 Total Commitments $98.6B $65.8B $7.8B $172.2B Acquisition Cost1 $87.8B $56.3B $7.5B $151.7B Performance Snapshot Cumulative Gross Investment Gains/(Losses)1 $23.
Slide 8: Public Investments Overview
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT Public Investments Overview Top 10 Public Investments by Fair Value | As of December 31, 2024 QUARTERLY FV QUARTERLY STOCK SVF1 SVF2 LATAM INVESTMENT FV ($B)2 COMMENTARY6 CHANGE ($MM)4 MOVEMENT5 New in Top 10 This Quarter +$370 $1.9 +24
Slide 9: Private Investments Overview
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT Private Investments Overview As of December 31, 2024 SVF1 SVF2 LATAM 395 # CURRENT INVESTMENTS1 Unrealized FV2 $25.3B Unrealized FV2 $25.2B Unrealized FV2 $5.1B Quarterly FV Quarterly FV Quarterly FV Change4 $(0.7B) Change4 $(1.0B) Change
Slide 10: 2024 Year in Review
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT 2024 Year in Review OUR 2024 PRIORITIES 2024 PROGRESS 01 Investing in the AI Revolution 22 $6.0B New Investments1 Increase in SVF2 Commitments 02 Unlocking Portfolio Value 20 $28.5B IPOs and Full Exits2 Raised by Portfolio Companies3 03 D
Slide 11: Investing Across the AI Stack
SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT Investing Across the AI Stack Twelve-Month Period Ended December 31, 2024 AI Investing Stack Application Layer 22 $3.9B Infrastructure Layer N E W I N V ES T M EN T S 1 I N V ES T M EN T A M O U N T 2 Hardware Layer +UNDISCLOSED INVESTMENTS Fo
Slide 12: Additional Investment in OpenAI
SVF2 PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT Additional Investment in OpenAI JANUARY 2025 SEPTEMBER 2024 Follow-On Investment1 $500mm Initial Investment $1.5B Tender Offer $6.6B $157B Total Round Size Post-Money Valuation Opportunity to Continued conviction Sustained revenue increase stake in
Slide 13: Recent Investments Demonstrate Strong Progress
SVF2 PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT 1.8x Recent Investments 2.8x Demonstrate Strong Progress1 Series A AUG Series B NOV Series C MAY Series D NOV Twelve-Month Period Ended KEY UPDATES December 31, 2024 KEY UPDATES Publicly listed on January 31, 2025, raising $275mm in IPO proceeds2 Im
Slide 14: Our Portfolio Companies Raised $28B+ YTD
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT Our Portfolio Companies Raised $28B+ YTD Twelve-Month Period Ended December 31, 2024 SVF1 SVF2 LATAM 74 Series D-2 Series F & H Series G Series E Series C Series E Series J Series E Series F Equity Funding Rounds1 Series B Series B Series
Slide 15: Continued Listings and Strong Late-Stage Portfolio
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT Continued Listings and Strong Late-Stage Portfolio As of December 31, 2024 $33B 60% Cumulative Public Listings Since Inception1 % of Total Private Fair Unrealized Fair 54 Value2 Value2 SELECT COMPANIES: SERIES E AND ONWARDS 3 50 +4 45 SVF
Slide 16: Swiggy Raised $1.3B in Record IPO
SVF2 PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT Total Cost2 Total Fair Value3 Gross MOIC4 $0.4B $1.1B 2.4x Cost5 & Trading Activity6 Swiggy Raised $1.3B in Record IPO1 DEC 31, 2024 INR 541 As of December 31, 2024 LISTING – NOV 2024 INR 390 INVESTMENT – JUL 2021 INR 194 Footnotes: 1. Source: TechC
Slide 17: Vision Funds Support Leading Indian Tech IPOs
SVF1 SVF2 PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT Vision Funds Support Leading Indian Tech IPOs As of December 31, 2024 TOP INDIA TECH. IPOS SINCE 20211 By IPO Proceeds ($B) 2.5 SVF Investment2 Listed November 2024 1.3 1.3 0.8 0.7 0.7 0.7 0.5 INDIA PORTFOLIO OVERVIEW 3 23 $14.2B KEY 7/8 93% $7
Slide 18: Case Study: Unlocking Value Through Multi-Round Investments
SVF1 PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT Case Study: Unlocking Value Through Multi-Round Investments As of December 31, 2024 DOORDASH VALUATION HISTORY1 FULL EXIT METRICS $60.2 INVESTMENT OVERVIEW Food delivery and logistics platform Built position over Gross Gain2 connecting customers wit
Slide 19: Distributed $8.6B in CY24
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT Distributed $8.6B in CY24 As of December 31, 2024 CUMULATIVE DISTRIBUTIONS SINCE INCEPTION1 $66.6B $58.0B CY24 DISTRIBUTIONS $53.4B +$8.6B $44.2B $15.2B $10.6B $5.7B $0.2B 2017 2018 2019 2020 2021 2022 2023 2024 Top Investment Exits by Gr
Slide 20: The AI Revolution is Here
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SPOTLIGHT AI Edge Microprocessors The AI AI Revolution AI Data Centers EXPANDING OUR Computer & New Energy PORTFOLIO OF AI LEADERS Vision is Here [diandianxiaomi] [GOAT] Generative Autonomous AI Systems Invested Across the AI Stack Application Laye
Slide 21: Appendix
Appendix w= OOftBank 2 Investment Advisers
Slide 22: SVF1 Distributions to Limited Partners
SVF1 SVF1 Distributions to Limited Partners Since Inception to December 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 $40.0B $36.2B $28.8B $9.0B $7.4B Equity $58.6B $5
Slide 23: SVF1 Contribution to SBG, Net of 3rd Party Interests
SVF1 SVF1 2024 Inception to Dec 31 Fund Net Profit2 $10.8 Less: Change in 3rd Party SVF1 Contribution Interests in Fund (5.4) to SBG, Net of 3rd SBG LP Income: 5.4 Share of Fund Net Profit Party Interests1,3 SBG GP Income: Amounts in USD Billions 1.3 Management & Performance Fees3 Contribution to SB
Slide 24: SVF1 Contribution to SBG
SVF1 SBG Paid-In Capital1 SVF1 Contribution $27.7B to SBG SBG Total Value2 As of December 31, 2024 $23.4B $33.1B Net Asset Value3 Distributions4 $9.7B Footnotes: 1. SBG Paid-In Capital represents SBG Commitment drawn down through capital calls less Return of Recallable unutilized Contributions. 2. S
Slide 25: SVF2 Contribution to SBG
SVF2 SBG Paid-In Capital1 SVF2 Contribution $58.2B to SBG SBG Total Value2 As of December 31, 2024 $25.6B $34.6B Net Asset Value3 Distributions4 $9.0B Footnotes: 1. SBG Paid-In Capital represents SBG Commitment drawn down through capital calls less Return of Recallable unutilized Contributions. SBG
Slide 26: LatAm Funds Contribution to SBG
LATAM SBG Paid-In Capital1 LatAm Funds $7.2B Contribution SBG Total Value2 to SBG $5.8B $6.3B Net Asset Value3 As of December 31, 2024 Distributions4 $0.5B Footnotes: 1. SBG Paid-In Capital represents SBG Commitment drawn down through capital calls less Return of Recallable unutilized Contributions.
Slide 27: Portfolio Companies Continue to be Well-Capitalized
SVF1 SVF2 LATAM 6% <12 Months 7% 12-24 Months Portfolio Companies 21% >24 Months Portfolio 67% 94% Continue to be Companies FCF+ or Sufficient to Portfolio Cash Runways Achieve Companies with Well-Capitalized By Fair Value1 Profitability2 12+ Months Cash Runway As of December 31, 2024 Footnotes: 1.
Slide 28: Thank You
Thank You SoftBank Vision & LatAm Funds Investor Briefing Presentations Available at visionfund.com/presentations 28