SoftBank Sells Early Stage VC Arm to Entity Led by Taizo Son

SoftBank Group Corp. is selling its early-stage venture capital arm SoftBank Ventures Asia Corp. after suffering billions of dollars in losses from failed startup bets.

The Japanese tech investor said it plans to sell SoftBank Ventures Asia — which helped SoftBank scout promising startups over the last decade — to an entity led by Singapore-based Mistletoe founder Taizo Son, the younger brother of SoftBank founder Masayoshi Son.

Taizo Son

Photographer: Akio Kon/Bloomberg

The Seoul-based venture capital arm, which has about $2 billion in assets under management, has bought stakes in companies including South Korean car-sharing startup Socar Inc., Indonesian social commerce ...