SostBank Vision Fund’s Rajeev Mishra resigns as co-CEO of largest venture capital fund ever

Rajeev Misra has officially stepped down as co-chief executive of SoftBank Group Corp’s Vision Fund, ending a tumultuous tenure at the largest venture capital fund ever.

Misra was instrumental in helping SoftBank founder Masayoshi Son set up the Vision Fund in 2017, helping him raise nearly $100 billion from Saudi Arabia, the United Arab Emirates, Apple and other backers.

The unprecedented bet on the startup space initially gave Son and Misra immense power to back their favorite founders. However, the strategy to scale up venture capital went awry as they bet billions on the startup ecosystem, leading to the collapse of WeWork, Zume Pizza and dog-walking app Wag.

Two years ago, Misra resigned from his core role in the company and began spending more time on his investment fund, OneIM. Alex Clavel will become the Vision Fund’s sole CEO, with Misra relinquishing his remaining title and management responsibilities.

“He will no longer play a central role or be a member of management. This relationship will not continue,” SoftBank Chief Financial Officer Yoshimitsu Goto said on the earnings call, adding that he would continue his non-conformist relationship with Misra. Formal conversation.