SoftBank surprises with investment in data storage startup Cohesity
The Vision Fund broadens its portfolio beyond consumer tech firms such as Uber and DoorDash, as Cohesity looks to add business in Asia
San Francisco — The $100bn SoftBank Vision Fund has made its second investment in an enterprise software company, as the massive fund broadens its portfolio beyond consumer tech firms such as Uber and DoorDash. The Vision Fund led a $250m investment into data storage company Cohesity, a California firm that provides services to help businesses store, manage and protect their data. The investment has a valuation of more than $1bn, and brings the company’s total fundraising to $410m, said Rob Salmon, president and chief operating officer. SoftBank, which leads a nearly $100bn investment vehicle that includes funding from the sovereign wealth funds of Saudi Arabia and Abu Dhabi, Apple, and Qualcomm, among others, has made sizeable investments in ride-hailing firm Uber Technologies, shared office provider WeWork, food delivery startup DoorDash and dog walking app Wag. Enterprise technology companies have not been as much of a focus. Cohesity marks the fund’s second investment in the ent...
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