In the face of stiff new U.S. regulations on foreign investment, SoftBank has been making compromises to get its deals approved.
According to this Reuters piece, SoftBank has given up board seats and access to sensitive information to make sure that the Committee on Foreign Investment in the United States, which under a new law has expanded power over foreign investment into the U.S., doesn’t quash its deals.
For example, SoftBank won’t have seats on Uber’s board. “We would not accept this if we were in the business of running companies,” Marcelo Claure, chief operating officer of SoftBank Group Corp., told Reuters in an interview. “We’re not. We are in the business of investing.”
On the surface, though, that appears to run somewhat counter to what SoftBank was supposed to be doing with its $100 billion Vision Fund, namely building a vast ecosystem of cross-pollinating tech companies.