:quality(75)/cloudfront-us-east-1.images.arcpublishing.com/bloomberglinea/2EXFZZ2PKJFCJNYSGJ3S74K26U.jpg "Rajeev Misra helped transform SoftBank into one of the top tech investors since joining in 2014.")
Bloomberg Línea — Indian executive Rajeev Misra, who oversees SoftBank’s massive Vision Fund, is stepping down from his executive role at the Japanese conglomerate, according to a statement from SoftBank.
Misra helped transform SoftBank into one of the top tech investors since joining in 2014. His exit continues a series of movements in the Latin American region of the huge Japanese investment bank in 2022.
From the beginning of this year, SoftBank had transferred responsibility for its Latin American funds (SoftBank Latin America Fund and SoftBank Latin America Fund II) to Misra.
In Latin America, SoftBank has about US$8 billion under management in these two funds. It is yet another change in the conglomerate in the wake of the exchange of chairs since the Bolivian Marcelo Claure, a key player in the foundation of the SoftBank LatAm Fund, decided to leave SoftBank due to disagreement on his remuneration.
Even when he was demanding $1 billion in compensation, the “severance” package Claure received from SoftBank for the break with the conglomerate, was $94 million.
Other senior executives for Latin America have recently left SoftBank: Paulo Passoni and Shu Nyatta, hired by Claure, who managed the funds for Latin America. SoftBank also spin-off its early-stage fund into a separate vehicle: Upload Ventures. Passoni and Nyatta’s replacements, Alex Szapiro and Juan Franck were reporting to Misra.
Misra will remain at SoftBank, but with reduced capacities. He will still oversee Vision Fund I but will leave Vision Fund II. Latin American funds would have been integrated into the Vision Fund. SoftBank had committed to investing $2 billion in the region this year.
