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February 18, 1999

SOFTBANK PLANS NEW INTERNET FUND AFTER $9.2BN GAINS

By CBR Staff Writer

Softbank Corp, the Japanese software company and investment house, is putting $390m worth of profits raised from the sale of three million shares in Yahoo! Inc into two new investment funds targeted at internet companies. Its Softbank Technology Ventures off-shoot is seeking outside investors for the funds, which will have capital of around $1bn and target both start-ups and listed companies. Softbank boasts that it is sitting on a $9.2bn gain from its internet investments with a paper profit of $6.8bn on Yahoo, the most successful of its holdings. Other successful holdings are E*trade, which shows a $908m profit and Geocities where it currently has a $537m gain. In addition, its Softbank Technical Ventures arm has substantial investments in a wide range of companies still in the start-up phase.

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