Rajeev Misra, a key lieutenant of SoftBank founder Masayoshi Son, will step down from his roles of corporate officer and executive vice president at the Japanese financial conglomerate amid record losses seen by the company in the last quarter.
He will continue to oversee the investments made by the first SoftBank Vision Fund that was set up in 2017.
As reported by Economic Times, Rajeev departs after SoftBank reported a loss of around $23 billion for the quarter ending in June, as tech stocks around the world took a beating.
Ever since setting up its first Vision Fund, the Japanese company has been known for its high valuation tech investments in companies like Alibaba, Didi, and Oyo. However, despite some early successes, many of its companies have stagnated or regressed, headlined by the pre-IPO collapse of WeWork that led to the departure of founder Adam Neumann and the loss of billions of dollars in valuation overnight.
Rajeev was already expected to leave the company as he disclosed raising over $6 billion for his own fund outside of SoftBank.
In July this year, he stepped down as the CEO of SoftBank Investment Advisors as well as CEO of SoftBank Vision Fund 2 (SVF2).
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