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SoftBank Vision Fund makes $800 mn investment in UK’s Greenshill

Greenhills, SoftBank Vision Fund

The Vision Fund will own 15-20 percent stake in the company which is now valued at $3.5 billion

A subsidiary of SoftBank, the SoftBank Vision Fund has invested $800 million in Greenshill, a leading market provider of working capital finance for companies worldwide. The deal marks the Vision Fund’s largest investment in the UK since its $450 million investment in OakNorth.

The SoftBank Vision Fund investing in Greenshill will increase the company’s valuation to nearly $3.5 billion, with the former owing 15-20 percent stake, Reuters reported. Both SoftBank and Greenshill have declined to comment on the investment.

Founder Lex Greenhill said that the company ‘democratises access to capital using technology and the financial markets’, describing its teams as ‘agents of technological disruption’.

 Colin Fan, managing partner of SoftBank Investment Advisers, told Nikkei Asian Review, “Through this new partnership, we see immense opportunity to introduce working capital finance to a new generation of businesses around the world.”

The SoftBank Vision Fund is led by Rajeev Mishra, a London-based banker and executive. He is also a former debt trader at Deutsche Bank and UBS.

Greenshill is where the former UK Prime Minister David Cameron is working as an advisor since his departure from prime ministerial office.

Soon after the investment, the financial company was mired in  Swiss group’s Global Asset Management (GAM) crisis. Sources familiar with the investigation said that the Swiss group’s decision to suspend Tim Hayward based on his investments in a series of bonds that Greenshill had organised for entrepreneur Sanjeev Gupta, who heads GFG Alliance.

According to Bloomberg data, a Greenshill supply chain fund managed by GAM dropped from €2.1 billion to approximately €700 million. Vodafone was also largely involved in the fund.

 Sovereign wealth funds such as that of the Kingdom of Saudi Arabia and Abu Dhabi have backed the SoftBank Vision Fund.

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