Vision Fund raised a $3 billion (Dh11 billion) loan from banks including Goldman Sachs Group Inc to help bridge funding gaps in deals, according to two people with knowledge of the matter.
Goldman Sachs along with Mizuho Financial Group Inc led the so-called capital call facility, said the people, asking not to be identified because the information is private. Citigroup Inc, Samba Financial Group and Mitsubishi UFJ Financial Group Inc were also among banks that participated, they said.
Capital call facilities provide short-term cash for deals until investors, who have committed money for them, respond to requests for funds. Saudi Arabia’s state-owned Public Investment Fund and Abu Dhabi’s Mubadala Investment Co are among investors that have committed capital to the $100 billion Vision Fund.
The fund, run by billionaire Masayoshi Son, is the world’s single largest pool of capital for technology investments. It has taken stakes in more than 70 startups and its portfolio includes the ride-hailing company Uber Technologies Inc and co-working giant WeWork Cos.