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Softbank boss Masayoshi Son supports Unicorns, says India’s future is bright

Good going for India's startup eco-system

SoftBank Group’s founder Masayoshi Son said that India’s future continues to be bright and that he believes in the passion of the country’s young entrepreneurs. “India will be great..There's a bright future. I tell young people in India let's make it (innovation) happen. I would support,” Son said while addressing the InFinity Forum organised by International Financial Services Centres Authority (IFSCA) and Bloomberg.

“I believe in the future of India. I believe in the passion of young entrepreneurs in India,” he said, adding that Softbank has invested about $14 billion in India in the last decade.

Also read: Fintech ecosystem must ensure interest of common Indian is secured, PM Modi tells technocrats

He added that this year alone, the Japanese firm has invested $3 billion into India. “We are the biggest foreign investor in India,” he said.

Son also said that Softbank is the provider of about 10 per cent of the funding of all the unicorns valued at $ 1 billion or more.

He also pointed out that Softbank-backed firms have created about one million jobs in the country.

The firm has backed several large firms such as Paytm and Policybazaar, which have just launched their initial public offering last month. Besides, it has also invested in Delhivery, Unacademy, Grofers, Oyo Hotels & Homes, and the new ones like Zeta, Meesho and OfBusiness.

Softbank also increased its investments in ecommerce giant Flipkart this year.