Rajeev Misra is officially stepping down as co-chief executive officer of SoftBank Group Corp.’s Vision Fund, marking the end of a pivotal chapter in the history of what was once the largest-ever venture capital fund. Misra played a crucial role in starting the Vision Fund in 2017, helping to raise nearly USD 100 billion from major backers including Saudi Arabia, the UAE, and Apple Inc.
Under Misra’s leadership, the Vision Fund initially gained significant power in the startup ecosystem, enabling it to back a range of high-profile companies. However, the strategy faced challenges as high valuations and large investments in ventures like WeWork, Zume Pizza, and Wag led to billions of dollars in losses.
In recent years, Misra had already begun to reduce his involvement in SoftBank, stepping back from day-to-day operations to focus more on his own investment firm, OneIM. With Misra stepping down completely, Alex Clavel will now take over as the sole CEO of the Vision Fund, inheriting leadership of a fund that has seen both unprecedented highs and significant setbacks.
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