SoftBank Group Corp has marked down its investment in Paytm parent One97 Communications to $800 million, even as it reported a historic loss of $26.5 billion at its Vision Funds for the fiscal ended March 2022, according to its latest financial report released on Thursday.
The Japanese conglomerate invested $1.4 billion in Paytm via its Softbank Vision Fund 1. The fund’s fair value is marked at $800 million as on March 31, 2022, the report showed.
However, it is still in the money with respect to its stake in another Indian fintech company PB Fintech Ltd, which operates insurance aggregator Policybazaar that also was listed last year. Softbank Vision Fund 1 invested $100 million in Policybazaar and its fair value has jumped 4x of the investment cost at $400 million.
Read more: VCCircle
