SoftBank Vision Fund Is Losing a Partner It Promoted Last Month
SoftBank Vision Fund Is Losing a Partner It Promoted Last Month
(Bloomberg) -- SoftBank Investment Advisers, which oversees the $100 billion Vision Fund, lost another senior member of its team, according to people with knowledge of the matter. This time it’s Carolina Brochado, who was promoted to partner just last month.
The London-based partner resigned this week after bonuses were paid on March 31, said the people, who asked not to be identified discussing personnel issues. She won’t leave immediately and will help with the transition of her responsibilities, one of the people said.
A representative for SoftBank declined to comment, and Brochado didn’t immediately respond to a request for comment.
SoftBank, known for its bets on DoorDash Inc., Uber Technologies Inc. and WeWork, last month promoted Brochado and another director to partner and elevated a partner to managing partner. They helped fill a recent slew of departures, and Brochado became one of the few women in the upper echelons of the firm.
Vision Fund employees have described the company culture as one that rewards aggression and recklessness, Bloomberg Businessweek reported in December. SoftBank’s investments have reshaped Silicon Valley’s startup environment in recent years, but the company is struggling to raise outside capital for the second Vision Fund. This week, SoftBank abandoned an agreement to buy additional WeWork stock from the startup’s shareholders.
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