The Edgeof was founded last month by Taizo Son and Atsushi Tara (in the pic)
The Edgeof, a newly formed ecosystem builder and VC firm, has agreed to acquire SoftBank Ventures Asia Corp. (SBVA), a wholly-owned subsidiary of SoftBank Group.
The strategic initiative aims to enhance support, development, and expansion of startups poised to transform the world, spanning from Singapore to the greater pan-Asian market.
The transaction details remain undisclosed.
The acquisition is contingent upon regulatory approval and is expected to be completed this year.
Following the deal, a fresh brand identity will be unveiled.
“Through this acquisition, we aspire to build an ecosystem that enables visionary entrepreneurs and their startups to effect significant, positive societal change,” The Edgeof Co-Founder and Chairman Atsushi Taira said.
The Edgeof Founder Taizo Son added: “We are confident that our collective strengths and resources will ignite a new era of revolutionary technologies and solutions, establishing us as a prominent influence in developing and expanding αStartups worldwide.”
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The Edgeof was created last month by Son and Taira. Son is the CEO of the Japanese VC firm Mistletoe and the youngest brother of Softbank Group Founder Masayoshi Son. Taira is the MD of Mistletoe Singapore.
The new entity aims to create a sustainable and better world by tackling pressing global challenges, such as climate change and sustainability, through innovative initiatives.
It aims to be Asia’s leading VC and ecosystem builder, helping alpha startups (αStartups) expand across borders and grow exponentially. αStartups are distinguished by their radical innovation, positive impact, and potential to scale globally. It will trigger fundamental changes in energy, water, agriculture, food, sustainability, AI/robot-driven changes in societies, healthcare, learning, and all things essential for the next generations.
SBVA will identify and invest in promising αStartups based in Asia or those with a global presence interested in the Asian market. To support the full lifecycle of these startups, multiple funds will be established, ranging from early to growth stages, enabling co-investment alongside similar-minded investors.
JP Lee, CEO of SBVA, said: “By joining forces, SBVA will be able to leverage its expertise, insights, and network to support visionary entrepreneurs in their endeavours and enable them to make a lasting global impact that transcends Asia.”
Founded in 2000, SoftBank Ventures Asia is an early-stage VC firm based in Seoul and currently operates approximately US$2 billion in funds under management. Since its inception, SoftBank Ventures Asia has focused on ICT investments, including AI, IoT, and smart robotics, with global investment professionals in Seoul, Beijing, Singapore, and San Francisco.
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