Observed Signal · Feb 7, 2023 · Earnings Report · Source: Trending Topics · Impact: 2/5 · Sentiment: Negative
Baillie Gifford and SoftBank Suffer Massive Tech Investment Losses
Scottish asset manager Baillie Gifford reported a £100 billion (about $120 billion) decline in assets under management in 2022, dropping from £336 billion to £223 billion. Client withdrawals accounted for £20 billion, while falling Tesla and Shopify share prices compounded the losses. Partner Nick Thomas said the privately held firm remains focused on long-term investments. Japanese technology investor SoftBank also posted heavy losses. Its Vision Fund 1 lost $11.5 billion and Vision Fund 2 lost $17.6 billion, a combined $28.2 billion valuation drop. SoftBank reported a $5.8 billion fourth-quarter loss following a $10 billion third-quarter loss. Markdowns on Didi and WeWork contributed significantly, with $9 billion and $5.1 billion losses respectively. SoftBank told investors it is operating in 'defense mode' and preparing for three possible scenarios for 2023. The company previously invested in Austrian MarTech firm Adverity through its Vision Fund.
Significant losses at major technology investors point to tighter capital markets for startups, with a direct MarTech connection through SoftBank's stake in Adverity.
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Key Takeaways & Evidence Grounding
- Baillie Gifford's assets under management fell by £100 billion (~$120 billion) to £223 billion in 2022.
- Clients withdrew £20 billion from Baillie Gifford during 2022.
- SoftBank Vision Fund 1 and Vision Fund 2 posted combined valuation losses of $28.2 billion.
- SoftBank reported a Q4 2022 loss of $5.8 billion after a $10 billion loss in Q3 2022.
- SoftBank's Vision Fund holdings in Didi and WeWork declined by $9 billion and $5.1 billion respectively.
Connected Companies & Entities
6 Entities mapped“Baillie Gifford, der berühmte schottische Investor von Tesla, Amazon, Spotify oder Climeworks, steht Anfang 2023 ziemlich angeschlagen....”
“Paradebeispiel dafür ist der Einbruch der Tesla-Aktie, aber auch die starken Kursverluste und Massenkündigungen bei Big Tech....”
“besonders hart haben die Wertverluste der Tesla- und der Shopify-Aktien beigetragen....”
“Mit dem Vision Fund haben die Japaner ... unter anderem in Adverity in Österreich investiert....”
“2022 hat auch einen anderen Tech-Großinvestor ziemlich hart erwischt: Softbank....”
“Nick Thomas, ein Partner des Investors, erklärte gegenüber der Financial Times...”
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