SoftBank is reportedly on the brink of revealing the sequel to its $100 billion Vision Fund

Reuters / Kim Kyung Hoon

• SoftBank Group, the Japanese tech conglomerate with investments in Uber, WeWork, and Slack, is reportedly close to announcing another Vision Fund.
• The announcement could come as early as this week according to Bloomberg, which first reported the news citing people familiar with the situation.
• Two of the first Vision Fund's investors, Saudi Arabia's Public Investment Fund and Mubadala Investment Co., are reportedly expected to back the new investment vehicle.
• SoftBank's first Vision Fund raised $100 billion in order to invest in frontier and enterprise technologies, consumer businesses, and transportation and logistics companies.
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SoftBank is reportedly close to announcing a technology-focused sequel to its $100 billion Vision Fund.

The Japanese conglomerate could reveal the new fund as early as this week, but the company is still working out details with investors, according to a Bloomberg report.

Saudi Arabia's Public Investment Fund and Mubadala Investment Co. - both of which backed the first Vision Fund - are expected to invest in the second investment vehicle, according to the report.

While the size of the fund is still unconfirmed, Saudi Arabia PIF contributed $45 billion to the first Vision Fund, and has suggested in the past that it invest the same amount in second fund. Other investors in the first Vision Fund are also expected to return for the new investment vehicle, according to the report.

Read more: The CEO of SoftBank Investment Advisers, who runs the world's biggest venture fund, offers an inside look at how he picks which companies to lavish with billions of capital

SoftBank could chip in as much $50 billion this time around, a big jump from the $28 billion the company put into the first Vision Fund, according to Bloomberg. The company hopes to close the fund by March 2020, and began working with Goldman Sachs, Centricus, and Cantor Fitzgerald in July to begin putting together the fund, according to Bloomberg.

In June, Masayoshi Son, the founder of SoftBank, said the first Vision Fund invested $64.2 billion in 71 companies generating a return of 62%. SoftBank's initial Vision Fund invested in disruptive startups like Uber, WeWork, Slack, DoorDash, and China's Didi Chuxing.

SoftBank's primarily operates in the telecommunications space, offering mobile plans, cloud, and network services.

Shares of SoftBank, which trades on the Tokyo Stock Exchange, are up 49% year-to-date, outperforming the broader Japanese stock market by 44%.

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