Recent social media discourse has questioned SoftBank's investment track record, with a tweet from Turner Novak stating, "How has SoftBank only invested in 4 unicorns over the past decade? Every check they write essentially has to push a $1B+ valuation." This assertion, however, significantly understates the Japanese conglomerate's extensive involvement in the global unicorn landscape, as official reports and industry analyses reveal a far broader portfolio of billion-dollar companies.
SoftBank's Vision Funds, established to back technology companies globally, have invested in hundreds of firms, many of which have achieved or surpassed unicorn status. According to a 2022 message from SoftBank Vision Fund 1, 195 unicorns were already in their portfolio at that time. The Vision Fund 1 alone invested $87.5 billion in over 90 companies, while Vision Fund 2 made 208 new investments in fiscal 2021, expanding its portfolio to over 250 companies.
The firm's strategy often involves substantial, later-stage investments, which can indeed propel companies to or beyond the $1 billion valuation mark. Crunchbase data from 2025 indicates that SoftBank and its Vision Funds have consistently led the largest funding rounds by amount, particularly in the "ultra-unicorn" category of companies valued at $5 billion or more. This approach aligns with founder Masayoshi Son's "cluster of number one strategy," aiming to invest in market leaders.
SoftBank's influence extends across various regions, fostering numerous unicorns. In Latin America, SoftBank's dedicated funds invested in 15 out of 25 regional unicorns as of September 2021, including prominent names like QuintoAndar and Rappi. Similarly, in India, SoftBank has been a significant foreign investor, backing companies such as Paytm and Policybazaar, and facilitating the emergence of new unicorns like Zeta, Meesho, and OfBusiness.
Despite a focus on high-growth, high-valuation companies, SoftBank has also navigated market fluctuations. In 2022, Masayoshi Son acknowledged a "startup winter," noting that some unicorn founders were reluctant to accept lower valuations in new funding rounds. This demonstrates an awareness of market dynamics while maintaining a long-term investment horizon, as SoftBank's Vision Funds have backed over 470 startups globally in the past six years.