SoftBank-Saudi high-tech Vision fund raises $93b

Japanese mobile carrier SoftBank said, with Saudi partners, it has raised nearly $100 billion in pledges to launch a major global fund for long-term, high-tech investments.

The SoftBank Vision Fund has received participation from industry titans and the likes of Apple, Qualcomm, and Taiwan's Foxconn and collected pledges totalling more than $93 billion so far, the fund said in a statement Saturday.

"The fund is targeting a total of $100 billion of committed capital, with a final close within six months," it said.

SoftBank announced its partnership with Saudi Arabia in October, with its flamboyant founder Masayoshi Son declaring that he was focused on the "Internet of Things," artificial intelligence and robotics.