SoftBank eyes smaller deals, early entry into startups in India revamp

MUMBAI: SoftBank Group Corp., known for writing hefty cheques at sky-high valuations, is looking at smaller transactions and plans to invest in startups at an earlier stage as part of a revamp of its India strategy.

According to three people familiar with the Japanese investor’s internal discussions, SoftBank will focus on deals between $100 million and $200 million in companies.

The smaller deals are a far cry from the billion-dollar bets in Flipkart, Ola, Paytm and Oyo that made SoftBank the largest and most influential investor in the startup scene in India.

SoftBank sold its stake in Flipkart last year for $4 billion, having invested around $2.5 billion.