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Japanese telecom and Internet giant <keyword id="163404" type="COMPANY" weightage="100" keywordseo="Softbank">SoftBank</keyword> has already made a number of investments in different start-ups in India, and has now said that its investments in the country will top $10 billion in 5-10 years. 
 SoftBank is said to have planned its first $350 million investment in a solar project in India, said <keyword id="357983" type="PERSON" weightage="100" keywordseo="Masayoshi-Son">Masayoshi Son</keyword>, CEO. 
 
"We have already invested $2 billion and we are interested in investing more," he said. "India has a great future. We are interested in investing in Internet companies and also in solar energy. We would make strong commitments." 
 
Son added that they are looking at further increasing the pace of investments. 
 
"We also made a first move on solar energy. We are making $350 million investment in first project in solar (in India). We will expand. In next 5-10 years, we will definitely make probably around $10 billion of investments," he added. 
 
It was in June 2015 that SoftBank had announced a JV worth about $20 billion with Bharti Enterprises and Taiwan's Foxconn Technology Group, under which 20 gigawatts of renewable energy would be generated. Son has now said that the target depends on power purchase agreements being signed with offtaker states, while adding that "we will support it". 
 
The list of Indian companies that have SoftBank's investments include the online-retailing marketplace Snapdeal, taxi-hailing app Ola Cabs, an Indian mobile-advertising network InMobi, real estate website Housing.com, hotel-booking app Oyo Rooms, and on-demand delivery service Grofers. 
 
He was asked about his expectations from the Indian government on renewable energy push, Son said, "On making investment, there is international stand on the rules. For example, if we make investment, then we want payment... there are international rules and standards and as long as India provides (that), we don't need any advantage. As long as there is parity with international standards that is enough," he said. 
 
<a href="http://blogs-images.forbes.com/liyanchen/files/2015/05/masayoshi-son-e1430929769227.jpg">Image source</a>

SoftBank's India investments might jump the $10 billion mark in the coming decade

<ul><li><keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">Softbank</keyword> is said to be in talks to take a stake in <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword>. It commenced similar discussions with Zomato's rival <keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword> last year.</li><li>India's <keyword id="6376068" type="UNKNOWN" weightage="20" keywordseo="food-delivery">food delivery</keyword> market is estimated to be growing at a quarterly rate of 15%.</li><li>Softbank is expected to make an investment decision by the end of 2018.</li></ul> In the aftermath of Walmart’s $16 billion acquisition of e-commerce upstart Flipkart, Softbank, a Japanese tech giant and investor, looks set to double down on the Indian market. The Economic Times <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/softbank-now-in-talks-to-put-zomato-on-its-menu/articleshow/64198467.cms">reported today </a>that Softbank was engaged in initial talks with Zomato, a food delivery service, to take a stake in the company. In fact, a source told ET that Softbank was scouring the Indian food delivery market for deals, with plans to infuse anywhere between $200 million and $400 million in a worthy candidate. The Japanese company had reportedly commenced talks with Swiggy, another food delivery service, late last year to invest as much as $250 million in the latter’s growth, although nothing seems to have come of it yet. India’s food delivery market, which is dominated by Zomato and Swiggy, is growing fast. Earlier this year, RedSeer Consulting, a research and consulting firm, estimated that the market grew at a quarterly rate of <a href="http://redseer.com/newsletters/food-tech-market-updates-feb18/">15% last year</a>, with daily order volumes more than doubling to 460,000 by September 2017. In April, RedSeer also pegged the size of the market <a href="http://redseer.com/newsletters/food-tech-market-updates-apr18/">at $740m</a>. The increasing level of interest in India’s food delivery market is thought to be reminiscent of the investor hype surrounding ride-hailing services a few years ago when Uber entered the country. Interestingly, Softbank has a stake in both Ola and Uber. Both companies have or had their own food delivery services. Ola <a href="https://www.olacabs.com/media/press/ola-and-delivery-hero-join-forces-in-india">acquired Foodpanda</a>, a food ordering app, in December last year with plans to invest $200 million in the company. Meanwhile UberEats was launched in May 2017 and <a href="https://www.thenewsminute.com/article/uber-eats-sees-50-pc-growth-first-year-operations-focus-tier-2-markets-81332">is said to be going strong</a>. Softbank is expected to make an investment decision by the end of 2018. Last month, the company’s CEO, Masayoshi Son, said that Softbank was on track to invest <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/set-to-overachieve-on-10-billion-india-investment-target-softbank-ceo-masayoshi-son/articleshow/63966163.cms">more than its original target of $10 billion</a> in India by 2024. It’s already invested $8 billion since 2014, partly through its <keyword id="4031888" type="PERSON" weightage="20" keywordseo="vision-fund">Vision Fund</keyword> for tech investments, making bets on the <a href="https://www.reuters.com/article/us-softbankgroup-gcl-solar/softbank-chinas-gcl-team-up-for-930-million-indian-solar-venture-idUSKCN1H909S">solar energy,</a> <a href="https://in.reuters.com/article/softbank-group-paytmecommerce-stake/softbank-alibaba-to-invest-445-million-in-paytm-e-commerce-idINKCN1H91OB">e-commerce</a> and <a href="https://inc42.com/buzz/softbank-vision-fund-oyo/">hotel booking</a> markets to name a few. It is currently said to be mulling <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/softbank-in-talks-to-invest-big-money-in-paytm-mall/articleshow/64152935.cms">a $3 billion investment</a> in Paytm Mall, the e-commerce arm of Paytm, in which it already owns a 21% stake, pending a possible exit from Flipkart. The news of the possible investment in Zomato follows speculation regarding the launch of a <a href="https://www.bloombergquint.com/business/2018/05/16/softbank-s-son-is-said-to-eye-another-100-billion-for-fund-2-0#gs.3Va=5TY">second Vision Fund </a>by Softbank. The new fund is expected to also have a $100 billion corpus and could launch as early as 2019.

Softbank is eyeing a slice of the Indian food delivery market

<ul><li><keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">Softbank</keyword> through its Softbank Vision Fund is reportedly looking to pump in $2-3 billion in <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s Jio. </li><li>This move comes in as an attempt to deleverage the business as Jio has been grappling under debt while boosting its infrastructure.</li></ul>For India’s biggest startups – Paytm, Oyo, Policybazaar, among others – Softbank has almost always been a one-way ticket for the unicorn club. But SoftBank’s Chairman and CEO Masayoshi Son’s next bet may be the ‘startup’ from the country’s richest man. But does Mukesh Ambani really need Softbank’s money? Instead of betting on ‘internet’ entrepreneurs, Son may be looking to bet on the company that is at the centre of India’s digital revolution, <keyword id="6354504" type="DEFINITION" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword>. India’s most talked about telecom network – Reliance Jio – is <a href="https://www.firstpost.com/business/softbank-may-invest-2-3-bn-in-reliance-jio-as-mukesh-ambani-looks-to-deleverage-business-6505361.html">reportedly</a> in talks with Japanese investment firm Softbank for an investment. The Economic Times report said that the Softbank Vision Fund may pump in $2-3 billion in Mukesh Ambani’s Jio. Then again, why does one of India’s most-valuable companies need such huge fund infusion? Jio reported a debt of ₹76,212 crore at the end of the March 2019 quarter. Much of it had piled up in making Jio the force it is today. 

 
 
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 However, Reliance’s telecom business needs more money to boost its infrastructure. So, with Softbank coming on board, it would be able to deal with a large amount of the current debt without compromising on the investment required to sustain the growth. “The debt in their balance sheet has been created for the purpose of building infrastructure for fibre and telecom towers. They would have the wisdom to deleverage the balance sheet and bring down their debt, capitalize the opportunity,” Deven Choksey, CEO &amp; MD, K.R. Choksey Shares &amp; Securities Private Ltd. told Business Insider. Choksey also believes that it’s a win-win for all – Softbank, Reliance and its shareholders. Softbank, which so far in India has been funding startups and has a stake in almost every other Indian unicorn, could look at Jio as a great investment to further establish a stronghold in India’s internet journey. “Jio is a complete solution provider by integrating various subscriptions – mobile, landline internet and cable TV – under one network. This is going to be the biggest driver of data in the country and they have the reach for that purpose. Certainly, the investment interest of any global banker or investor will be there. These kinds of prepositions aren’t easily available,” said Choksey. Choksey further added that Jio’s last quarter results show that an average user is consuming 11 GB data per month and this will go up after 5G, which makes it an opportune time for an investor to come in. See Also: <a href="https://www.businessinsider.in/mukesh-ambanis-reliance-industries-and-saudi-arabias-aramco-in-deal-talks/articleshow/68933752.cms">Mukesh Ambani might net billions by selling a stake in his refinery business to the ‘world’s most profitable company’</a> <a href="https://www.businessinsider.in/15-deals-have-given-mukesh-ambanis-8-5-trillion-reliance-industries-a-distinct-makeover/articleshow/68422829.cms">15 deals have given Mukesh Ambani’s ₹8.5 trillion Reliance Industries a distinct makeover</a>

Does Mukesh Ambani need Softbank's money to give Reliance Jio a greater flight?

The biggest strategic investor in <a href="http://www.businessinsider.in/searchresult.cms?query=indian+startups&amp;sortorder=effectivedate">Indian startup ecosystem</a> <a href="http://www.businessinsider.in/searchresult.cms?query=softbank&amp;sortorder=effectivedate">SoftBank Group</a> registered a loss of nearly $350 million from <a href="http://www.businessinsider.in/searchresult.cms?query=snapdeal&amp;sortorder=effectivedate">Snapdeal</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=ola&amp;sortorder=effectivedate">Ola</a>. 
 These two startups are <keyword id="163404" type="COMPANY" weightage="100" keywordseo="Softbank">Softbank</keyword>’s biggest investments in India. Softbank has always maintained it will invest $10 billion in the country. 
 
The figures comes after Softbank reported a loss of over $550 million for the six-month period ending September 30. 
 
"Loss recorded as the amount of change in the fair value of the company's investments, primarily in India, from the previous fiscal year-end to the end of the third-quarter. Of this, a gain of ¥16,133 million was due to foreign exchange rate fluctuation," the company stated its latest earnings report. 
 
It had recorded a gain of ¥108.42 billion for both companies in the year-ago period. 
 <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword> was valued at about $5 billion after its previous funding round in November 2015, <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword>'s valuation was pegged at $6.5 billion in February this year.

SoftBank records loss of nearly $350 mn from Snapdeal, Ola

<a href="http://www.businessinsider.in/searchresult.cms?query=Japan%E2%80%99s+SoftBank+">Japan’s SoftBank</a> might provide a <keyword id="6357455" type="EVENT" weightage="60" keywordseo="Funding">funding</keyword> of Rs 650 crore ($100 million) to Grofers, a quick-delivery service for groceries and electronics from neighbourhood stores. 
 The Gurgaon-based startup is in talks with investors including <keyword id="163404" type="COMPANY" weightage="100" keywordseo="Softbank">SoftBank</keyword>, according to two people aware of the development. 
 The company is looking to close the round at a valuation of between $300 million and $400 million, said a <keyword id="6357097" type="COMPANY" weightage="100" keywordseo="venture-capital">venture capital</keyword> investor. 
 
If the deal fructifies, it will mark an over ten-fold increase in valuation and the third round of funding this year for Grofers, which was valued at $33 million in February in its first major round quickly followed by another round in April, taking its total venture funding to $46.5 million. 
 Grofers, founded in December 2013, has also held talks with Russian billionaire Yuri Milner's DST Global. But SoftBank, whose president is the India-born former <keyword id="6355629" type="CITY" weightage="100" keywordseo="Google">Google</keyword> executive Nikesh Arora, is now in talks to lead the round, sources said. 
 
The new fundraising comes as Grofers, founded by IIT graduates Dhindsa and Saurabh Kumar, gets ready to compete in the so-called hyperlocal delivery space with larger players such as <a href="http://www.businessinsider.in/searchresult.cms?query=Flipkart%2C+Snapdeal+and+JustDial+">Flipkart, Snapdeal and JustDial</a> besides grocery delivery firms like BigBasket and PepperTap. 
 
Softbank most aggressive when it comes to invest in Indian startups: Over the past year, SoftBank has become the <a href="http://www.businessinsider.in/searchresult.cms?query=investor">most aggressive investor in Indian startups, backing Snapdeal, Ola, Housing and Oyo</a> with over $1 billion in total funding. SoftBank founder Masayoshi Son pledged last year to invest $10 billion in India over a decade. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=Grocery+">Grocery accounts</a> for over 70% of India's total retail market of $350 billion, according to a recent report on the Indian Internet market by IIFL. "Our interactions indicate that the top three brick-and-mortar grocers invested $2-3 billion in the past three years. Despite such <keyword id="6362476" type="ORGANIZATION" weightage="40" keywordseo="investments">investments</keyword>, the share of organised grocery retailing remains low. This provides a significant opportunity for an online grocer," said the report. 
 Competition in hyperlocal grocery service: India's largest online retailer has started piloting its hyperlocal grocery service, <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword> Nearby, while <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword> recently bought a stake in PepperTap by participating in its $36-million round. <a href="http://www.businessinsider.in/searchresult.cms?query=Grocery+">Paytm</a>, backed by China's Alibaba Holdings, also has a grocery app while Amazon has been experimenting hyperlocal delivery with kirana stores. 
 Grofers raised $36 million in April this year from venture capital firm <keyword id="270604" type="ENTERTAINMENT" weightage="80" keywordseo="Sequoia">Sequoia</keyword> Capital India, New York-based investment firm Tiger Global Management and Apoletto Asia, the personal investment vehicle of DST Global's Milner. 
 
(Image: Indiatimes)

SoftBank is likely to invest in Grofers! In talks to raise Rs 650 crore

<ul><li>The <keyword id="35450" type="COMPANY" weightage="20" keywordseo="insurance">insurance</keyword> policy portal received $238 million in a funding round led by <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">Softbank</keyword>. </li><li>The deal involved the sale of a 20% stake in <keyword id="696009" type="COMPANY" weightage="20" keywordseo="Policybazaar">PolicyBazaar</keyword>. </li><li>PolicyBazaar will use the funds to achieve its growth and acquisition targets. It plans to reach 10 million customers by 2020. </li></ul>Swiggy had barely settled into its spot on the list of India’s newest unicorns and it’s already been unseated by PolicyBazaar. The online aggregator, which helps consumers compare different insurance policies, has received a $238 million investment in a funding round led by Japanese <keyword id="6358815" type="UNKNOWN" weightage="20" keywordseo="tech">tech</keyword> giant Softbank, facilitated through its Vision Fund. Softbank is no stranger to India’s technology sector, becoming something of a unicorn-builder with investments in Paytm, Flipkart and OYO Rooms. The funding round involved the sale of over a 20% stake in PolicyBazaar by its owner, ETechAces Marketing and Consulting. As part of the investment, Softbank took a 14% stake in PolicyBazaar for around $150 million. EtechAces also owns PaisaBazaar, which compares different loans and credit card rates from banks. Reports first surfaced in January 2018 that Softbank was in talks to invest in PolicyBazaar. At the time, the funding round was said to value the portal at around $800 million. A company with big plans Founded in 2008 by three IIT alumni, PolicyBazaar nullifies the role of agents and intermediaries by allowing consumers to pick and choose between different policies from all of India’s major insurers. It reportedly earned close to ₹20 billion in revenue in fiscal 2018 and currently has around 300,000 transactions per month. As insurance penetration in India increases and the ecosystem develops, PolicyBazaar will be of great help to millions of people looking to purchase a policy online. It is looking to reach 10 million customers by 2020 and is also planning to expand into the healthcare consultation space. Prior to the latest funding round, PolicyBazaar had raised around ₹10 billion from investors, having reportedly earmarked ₹5 billion for acquisitions and growth initiatives, particularly in the reinsurance space. Reinsurance involves insurance for insurance companies. In December 2017, it was said to be mulling an initial public offering (IPO) as part of a plan to triple its valuation from $500 million. Following the Softbank investment, it still maintains that it will go public in the near future. A decision on an IPO is expected by September 2018.

PolicyBazaar becomes India’s latest unicorn after Softbank investment

New Delhi, Jan 9 () SB Investment Advisers (UK) Ltd (SBIA) on Thursday named former Google executive Vikas Agnihotri as its first operating partner in India.
 "To continue its expansion in India and bolster portfolio companies, SBIA has announced the appointment of Vikas Agnihotri as its first operating partner to foster closer connections with the region's technology ecosystem and the SBIA's global network," a statement said.
 Agnihotri joins the company from Google, where he had a stint of about a decade in various leadership roles. In his last role, he served as the interim Country Head and Managing Director of Indian operations.
 He is also on the board of Mobile Marketing Association, the Advertising Standards Council of India, and Internet and Mobile Association of India (IAMAI).
 After launching the SoftBank Vision Fund I in 2017, SoftBank Vision Fund II was announced last year to continue the strategic investment in technology and innovation globally.
 In India, SoftBank Vision Fund I has already invested over USD 10 billion in technology companies, including Grofers, Lenskart, Delhivery, FirstCry, Oyo, Ola, Paytm, and PolicyBazaar.
 SBIA had announced the opening of its India office in 2018 and hired Sumer Juneja to lead its India investing operations. SR HRS

Vikas Agnihotri named SB Investment Advisers' operating partner in India

SoftBankPraveen Akkiraju, SoftBank Vision Fund managing partner, is reportedly stepping down.<ul class="summary-list"><li>Praveen Akkiraju, a managing partner at SoftBank Vision Fund, is leaving the company.</li><li>Akkiraju, a former executive at Cisco Systems, joined the $100 billion investment vehicle last year to focus on enterprise technology investments. </li><li>A Vision Fund spokesperson said senior managing partner Deep Nishar would shoulder some of Akkiraju's former responsibilities, including his board seat at the Indian company Automation Anywhere. </li><li><a href="https://www.businessinsider.com/">Visit Business Insider's homepage for more stories. </a></li></ul>Praveen Akkiraju, a managing partner at SoftBank Vision Fund, is leaving the company. An email announced the news internally, and said that Akkiraju was "leaving to explore his passion for working with early-stage start-ups (operating or investing role)," <a href="https://www.axios.com/newsletters/axios-pro-rata-896719d9-1867-4218-91e9-42368d266637.html?chunk=1#story1">Axios's Dan Primack reported Wednesday</a>. A spokesperson from SoftBank Vision Fund confirmed the news. "I want to thank Praveen for everything he's done for the Vision Fund. His deep technical expertise, thoughtfulness and passion for entrepreneurs will be missed. We wish him all the best on his next adventure," a statement from Vision Fund CEO Rajeev Misra said. Akkiraju was one of the fund's twelve managing partners, managed investments in both America and Asia, and served as the co-lead on India investments. The former Cisco executive joined SoftBank Vision Fund last spring, and has the fund's enterprise software investments. One of Akkiraju's deals was intelligent automation company Automation Anywhere from India, in which SoftBank Vision Fund invested $300 million. Akkiraju currently holds a seat on Automation Anywhere's board. On the company board page, Akkiraju has said that he believed that technologies such as artificial intelligence, machine learning and cloud computing were "redefining the way products and services are being delivered." SoftBank's first Vision Fund backed some of the <a href="https://www.businessinsider.com/wework-uber-oyo-what-like-living-on-softbank-companies-2019-7">biggest names in tech, </a>including Uber, WeWork, and DoorDash. It also has a few sizable investment in enterprise technology companies like the office-messaging service Slack. But doubts about the investment vehicle have intensified after the collapse of WeWork's planned IPO, as well as Uber and Slack's disappointing stock performances. SoftBank Vision Fund had initially targeted raising $108 billion in funding for its second act, which aimed to shake up next-generation enterprise technology. Last month, the company's first fund-raising round collected $2 billion, <a href="https://www.bloomberg.com/news/articles/2019-11-15/softbank-s-second-vision-fund-is-starting-life-a-lot-smaller">Bloomberg reported</a>. That's less than 2% of the company's original vision. Vision Fund declined to comment on what implications Akkiraju's departure would carry for its second iteration. No replacement for Akkiraju has yet been announced. Senior managing partner Deep Nishar is said to be taking on many of Akkiraju's responsibilities, including his board seat with Automation Anywhere. <h3>NOW WATCH: <a href="https://www.businessinsider.com/tech-that-died-this-decade-aim-vine-moviepass-2019-11">Tech that died this decade</a></h3>

One of SoftBank Vision Fund's 12 managing partners is leaving the company

<ul><li><keyword id="163404" type="ORGANIZATION" weightage="100" keywordseo="Softbank">SoftBank</keyword> to sell its entire stake in Flipkart for a profit of $1.5 billion. </li><li>The company is also looking to invest about half a million dollars in Paytm Mall. </li><li>Tencent will be the largest minority stakeholder once SoftBank exits Flipkart.</li></ul>SoftBank, the Japan-based telecom and internet giant, has finally agreed to sell its 21% stake holdings in Flipkart, <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/softbank-agrees-to-sell-flipkart-stake-to-walmart/articleshow/64266098.cms">a report in The Economic Times</a> said. The same report also said that the company is ready to work out the tax issues that were delaying the share sales. The company headed by <keyword id="6377749" type="PERSON" weightage="20" keywordseo="Masayoshi-San">Masayoshi San</keyword> earlier was uncertain on selling the stocks. The company that invested approximately $2.5 billion in Flipkart in FY16 through its Vision Fund, is expected to make $4 billion in stock sales. According to reports, SoftBank was considering not selling the Flipkart shares due to many options, mainly due to the tax issues related to short-term capital gains. Another reason could be that SoftBank saw a potential valuation increase in Flipkart. Currently, Flipkart has a valuation of close to $21 billion. Some <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/softbank-in-talks-to-invest-big-money-in-paytm-mall/articleshow/64152935.cms">reports</a> said that the Japanese business giant is also looking for investments in other Indian startups. The company has also held early discussions to invest more than $500 million in Paytm Mall until 2020. After SoftBank exits Flipkart, the investments in Paytm and associates will collectively make it the company's largest gamble in the country. The company also holds shares in other Indian startups such as Ola and Oyo. Earlier this month, on May 10, Walmart announced that it will acquire 77% of the e-commerce site Flipkart, making it the biggest deal involving an e-commerce site. As of now, India is witnessing a battle on the e-commerce grounds between Amazon, Walmart and China’s Alibaba. Amazon India is now valued at $16 billion according to <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/walmart-take-note-amazon-india-valued-at-16-billion/articleshow/64251173.cms">recent reports</a>. Tencent, a prominent competitor of Walmart backed JD.com and Alibaba in the China e-commerce market, will now be the largest minority shareholder in Flipkart once Softbank exits

SoftBank has agreed to sell its entire 21% stake in Flipkart to Walmart

A mere two years after he left <keyword id="6355629" type="CITY" weightage="60" keywordseo="Google">Google</keyword> for <a href="http://www.businessinsider.in/searchresult.cms?query=SoftBank&amp;sortorder=effectivedate">SoftBank</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=Nikesh+Arora&amp;sortorder=effectivedate">Nikesh Arora</a> has stepped down as the COO of the company. Handpicked by <keyword id="163404" type="COMPANY" weightage="100" keywordseo="Softbank">SoftBank</keyword> CEO <a href="http://www.businessinsider.in/searchresult.cms?query=Masayoshi+Son&amp;sortorder=effectivedate">Masayoshi Son</a> himself, this <a href="http://www.businessinsider.in/searchresult.cms?query=Silicon+Valley&amp;sortorder=effectivedate">Silicon Valley</a> was widely regarded as Son’s successor, and was one of the highest paid man on earth. 
 
Arora's resignation comes a day after SoftBank gave him the clean chit after a special committee reviewed allegations against him, and found no merit. Son is expected to continue as the CEO for the next 5-10 years. 
 
Mr. Arora’s departure comes after a volley of criticism about his lackluster investments, and shareholders campaigning to see him gone, claiming conflict of interest as a major reason, thanks to his role as an adviser to private-equity firm Silver Lake. 
 
Allegations against him: 
In its allegations, New York-based law firm Boies Schiller &amp; Flexner representing SoftBank shareholders claimed he was guilty of a "series of questionable transactions, poor investment performance and conflict of interest." 
 
With SoftBank struggling with slow growth in profit and a huge debt of $80 billion, no wonder Mr. Arora’s appointment as a board member to Sprint soon after joining SoftBank would face criticism. 
 
“Large corporate investments are not based on individuals. SoftBank’s investments would be guided by their idea of the size of the Indian market rather than an individual’s decisions”, Arvind Singhal, Chairman and Managing Director of Technopak says. 
 
His investments: 
Arora has been a strong supporter of the Indian startup ecosystem. Under him, SoftBank pumped over a billion dollars into the country’s startups. Its India investments include the likes of <a href="http://www.businessinsider.in/searchresult.cms?query=Snapdeal&amp;sortorder=effectivedate">Snapdeal</a>, Ola, Grofers, <a href="http://www.businessinsider.in/searchresult.cms?query=OYO+rooms&amp;sortorder=effectivedate">OYO rooms</a> and the troubled <a href="http://www.businessinsider.in/searchresult.cms?query=Housing.com&amp;sortorder=effectivedate">Housing.com</a>. 
 
“With him in place, SoftBank may have looked at India much more aggressively”, Singhal muses. 
 
Mr. Arora’s $208 million paycheck over the last two years made him one of the highest-paid executives in the world. His decision to purchase SoftBank stocks worth over $483 million last year also caused an outcry, calling it an attempt by the company to quieted murmurs about his performance. 
 
“I won’t be looking to invest in this space anymore, but not because of what transpired with the SoftBank portfolio. That space was looking like one with a very large market opportunity and, that ventures operating in it could scale quickly. However, now the consumer internet space is fairly congested. There is no value in investing in a space where every startup has several well funded competitors”, Angad Singh Rikhy, Manager, Dealflow and Partnerships, Unitus Seed Fund says. 
 
When asked if Arora’s investment decisions could be stamped as ‘bad choices’, Rikhy says, “I wouldn’t’ go as far to say that. Every fund and/or angel makes investments that go south, at an average 2 out of 10 funded startups make positive returns. Looking at his portfolio, it was not a complete blunder as people are positioning it. The reality is a lot of the time early-stage investors are not positioned well enough, whether its due to the lack of historical information when dealing with innovative products/services or the fact that most of the data available are projections. We bet on an entrepreneur’s capabilities to pull off certain strategic maneuvers.” 
 Several of Mr. Arora’s investments have been burning cash and losing money. Ola is still up against Uber in an expensive price war, <keyword id="541988" type="COMPANY" weightage="60" keywordseo="SnapDeal">Snapdeal</keyword> is struggling to raise new funds and OYO’s business model is being questioned. 
 
<a href="http://economictimes.indiatimes.com/photo/48539924.cms">Image Source</a>

Nikesh Arora will leave SoftBank - what next?

<ul><li><keyword id="357983" type="PERSON" weightage="20" keywordseo="Masayoshi-Son">Masayoshi Son</keyword>, has pledged to provide free solar energy to India and other members of the International Solar Alliance in 25 years. </li><li><keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">Softbank</keyword>’s contracts to supply energy to <keyword id="222666" type="ORGANIZATION" weightage="20" keywordseo="ISA">ISA</keyword> countries via a power purchasing agreement expire in 25 years, after which the company would have recouped its solar energy investments. </li><li>Son’s announcement came against the backdrop of the inaugural meeting of the ISA in New Delhi.</li></ul> In a move that is bound to get more countries to sign up for the International Solar Alliance (ISA), the CEO of Softbank, Masayoshi Son, has pledged to provide free solar energy to India and other members of alliance in 25 years. Son’s remarks came on 3 October at a renewable energy conference in India’s National Capital Region. Softbank’s contracts to supply energy to ISA countries via a power purchasing agreement expire in 2043, hence the 25-year deadline. Son explained that while the lifespan of <keyword id="70990" type="ORGANIZATION" weightage="20" keywordseo="Solar-power">solar power</keyword> projects extends to 80 years, they begin operating at a 85% of their original capacity after the first five years. Hence, the bulk of earnings come in the first 25 years, after which it would become feasible to provide electricity at dramatically reduced rates since Softbank would have recouped its investment. In addition, producing solar power in India is a lot cheaper than in other countries. In June this year, NHK, a Japanese broadcaster, reported that Softbank was planning to invest upto $100 billion in India’s solar energy sector. The investment was in addition to a $20 billion deal signed in 2015, wherein the technology firm agreed to partner with Foxconn and Bharti Enterprises for some solar energy projects. The ISA was launched by Indian Prime Minister Narendra Modi in November 2015 at the UN Conference on Climate Change in Paris. Headquartered in India, the alliance has invited 121 countries situated between the Tropics of Cancer and Capricorn to sign up. However, only 70 countries have signed the ISA founding agreement, out of which 47 have ratified it. Son’s announcement came against the backdrop of an inaugural meeting of the ISA in New Delhi. UN Secretary General Antonio Guterres was in attendance. As part of his keynote speech, Modi said that he envisioned the ISA becoming an energy cartel like the <keyword id="47969" type="COMPANY" weightage="20" keywordseo="Opec">OPEC</keyword> group.

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