The Edgeof, a company founded by Taizo Son and Atsushi Taira, is set to acquire SoftBank Group’s wholly-owned subsidiary, SoftBank Ventures Asia, by the end of 2023.
Founded in Seoul in 2000 as SoftBank Ventures Korea, the company rebranded in 2019 and expanded its investment portfolio beyond South Korea, targeting the Southeast Asian and Chinese markets.
With approximately $2 billion in assets under management (AUM), SoftBank Ventures Asia focuses on information and communications technology (ICT) investments in areas such as artificial intelligence (AI), the Internet of Things (IoT), and robotics.
Notable SoftBank Ventures Asia investments include Tokopedia, an Indonesian e-commerce unicorn that merged with Gojek and went public, Kream, Moka, Carro, Funding Societies, Sendo, EV Hive, and Mathpresso.
Meanwhile, Mistletoe has invested in approximately 170 companies across 15 countries since its inception in 2016. Notable investments include Garena, Funderstream, and Hatcher+.
With the acquisition of SoftBank Ventures Asia, The Edgeof can leverage Mistletoe’s expertise to build a pan-Asian ecosystem for innovative startups.
The deal also aims to support the entire lifecycle of startups by creating multiple early and growth-stage funds, enabling co-investment alongside like-minded investors.
Furthermore, with this acquisition, The Edgeof aims to drive innovation by working closely with the SoftBank Group and benefiting from its industry insights and extensive network.
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