From One Son To Another
January 26, 2010 - 11:21 pm
Behind any successful businessman is another one.
In this case, Wen Yunsong, the son of Chinese premier Wen Jiabao, has the backing of Japan's fourth-richest man.
Softbank Corp founder and CEO Masayoshi Son is funneling money into Wen's private equity firm, New Horizon Capital, which boasts a reported $500 million under management. Son has a net worth of $5.6 billion. (See his billionaire profile and Forbes' calculations of Japan's 40 Richest.)
News yesterday out of China was that Son's Softbank and Singapore's state-run investment firm Temasek Holdings, both early investors in New Horizon Capital, are once again supporters, pouring money into its latest $1 billion fund. Their investment helps New Horizon get to $750 million, very close to its goal. It will invest the money in companies about to go public.
Softbank, seller of the populariPhone in Japan, also has big stakes in Yahoo! Japan, Chinese e-commerce site Alibaba.com. Plus its venture capital spinoff China Softbank is investing in Chinese internet companies as well as Vietnamese online marketplace Peacesoft.
In this case, Wen Yunsong, the son of Chinese premier Wen Jiabao, has the backing of Japan's fourth-richest man.
Softbank Corp founder and CEO Masayoshi Son is funneling money into Wen's private equity firm, New Horizon Capital, which boasts a reported $500 million under management. Son has a net worth of $5.6 billion. (See his billionaire profile and Forbes' calculations of Japan's 40 Richest.)
News yesterday out of China was that Son's Softbank and Singapore's state-run investment firm Temasek Holdings, both early investors in New Horizon Capital, are once again supporters, pouring money into its latest $1 billion fund. Their investment helps New Horizon get to $750 million, very close to its goal. It will invest the money in companies about to go public.
Softbank, seller of the popular
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