SoftBank Vision Fund Loses 5 High Level Decision Makers
SoftBank Vision Fund, a $100 billion investing vehicle, known for its bets on startups including WeWork, Uber Technologies Inc. and Chinese ride-hailing company DiDi Chuxing, has recently lost some key figures. The exits mount as the fund bets on startups including fitness tracker Whoop and restaurant-technology maker Ordermark.
Ruwan Weerasekera, the fund’s COO, has retired. Penny Bodle, a partner who headed investor relations, has also departed. Avi Golan, an operating partner, has left to become CEO of artificial intelligence software maker AnyVision. Investing partners Ted Fike and Justin Wilson have resigned to become senior MD at Alec Gores’s Gores Group. Carolina Brochado also gave her notice a month after she was promoted to partner.
As recently as December, Vision Fund employees have described the company culture as one that rewards aggression and recklessness.
Opendoor, a company backed by the Vision Fund, has agreed to merge with a SPAC led by venture capitalist Chamath Palihapitiya. Many think other portfolio companies may try to go public in a similar way.