SoftBank-backed SVF Investment raises $525 mln in IPO

Blank-check company SVF Investment Corp, backed by SoftBank Group Corp, said on Thursday it sold shares in its initial public offering at $10 per unit to raise $525 million.

SVF Investment is sponsored by SoftBank Investment Advisers, which runs the $100 billion fund and said it could invest in a new or existing portfolio company.

SVF Investment was formed for the purpose of an effective merger or conducting similar business. SoftBank Group had cited sectors such as artificial intelligence and robotics as possibilities, in line with its broader investing thesis.