SoftBank Sold $14B In Facebook, Amazon, Netflix, Google, Salesforce, Microsoft, Uber In Q2 To Ramp Up Funding Of Private Startups

Tokyo-based SoftBank Group SFTBY sold nearly $14 billion worth of listed stocks last quarter.

What Happened: The investment group shed nearly $3.5 billion in Facebook Inc FB and $2.9 billion in Uber Technologies Inc UBER.

The Masayoshi Son-founded SoftBank Group also liquidated positions in Microsoft Corp MSFT, Alphabet Inc GOOG GOOGL, Salesforce.com Inc CRM, Netflix Inc NFLX and Amazon.com Inc AMZN in the three months ended June 30.

See Also: Billionaire Masayoshi Son's SoftBank Claims $5B Stake In Roche: Bloomberg

Why It Matters: SoftBank Group poured $15 billion into private startups last quarter most of which came from proceeds of the share sales, Bloomberg News reported on Tuesday.

The conglomerate has also doubled the pot for Vision Fund 2, where the company is a sole investor, to $40 billion since the end of March.

Son is known to hold on to investments and the development signals a new appetite for exits to finance the accelerating pace of deal-making at SoftBank's Vision Fund investment arm. The company poured $15 billion into private startups last quarter alone, about half of which came from proceeds of the share sales. 

Price Action: SoftBank shares closed 2.22% lower at $29.10 on Tuesday. 

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Photo by MIKI Yoshihito on Flickr