Son Tae-jang, Mistletoe Chairman, Acquires SoftBank Ventures

Chairman Son Jeong-ui's Younger Brother Acquires Through Newly Established Corporation The Edgeo

Son Tae-jang, chairman of the global investment firm Mistletoe, announced on the 12th that through the newly established corporation The Edgeof, he has acquired SoftBank Ventures, a subsidiary of SoftBank Group. The Edgeof signed an investment agreement last month to secure all shares of SoftBank Ventures. The acquisition process is planned to be completed within this year.

Son Tae-jang, who led this acquisition, is the founder of the game company GungHo Online Entertainment, which was listed on the Japan Stock Exchange in 2005. He is also the younger brother of SoftBank founder Masayoshi Son. Since 2019, he has served as an external advisor to SoftBank Ventures, maintaining a connection with the company.

Chairman Son established Mistletoe in 2013 and has invested in about 170 global startups, focusing on impact investments in sustainable future industries. Through this acquisition of SoftBank Ventures, he plans to strengthen expertise in venture investments in the technology sector and further create synergies in investment and business development.

SoftBank Ventures will continue to operate as an independent venture capital firm, as before the acquisition. It will actively continue fund management and new investment activities without changes to the current management and personnel structure. Lee Jun-pyo, CEO of SoftBank Ventures, stated, "We have partnered with a trusted ally as we grow toward becoming Asia's top venture capital firm," adding, "Based on the global startup investment experience and nurturing capabilities of both companies, we will create unprecedented new value in the Asian startup ecosystem."

Chairman Son said, "We have partnered with SoftBank Ventures, which has discovered numerous innovative technology companies," and added, "I believe the venture ecosystem in Asia that the two companies will build together can solve many challenges humanity faces in the future."