Press Release
The Edgeof to Acquire SoftBank Ventures Asia to Establish Pan-Asian Ecosystem for Pioneering Startups
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The Edgeof, a newly established entity will be led by a set of visionary leaders, including Founder Taizo Son, Co-founder and Chairman, Atsushi Taira, from the founding team of Mistletoe.
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The Edgeof will leverage Mistletoe's know-how and establish a Pan-Asian ecosystem for αStartups by discovering, investing and supporting the growth of game-changing startups.
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SoftBank Group Corp. will collaborate closely with the Edgeof, offering valuable expertise, industry insights, and an extensive network to drive innovation and promote growth.
Singapore/Seoul/Tokyo, 12 April 2023 – The Edgeof, a newly formed ecosystem builder and venture capital entity, and SoftBank Group Corp. (“SBG”) today announced that they have agreed on plans in which The Edgeof will acquire SoftBank Ventures Asia Corp. ("SBVA"), a wholly-owned subsidiary of SBG, to establish a pan-Asian ecosystem for pioneering startups. The Edgeof was founded by Founder Taizo Son, and Co-founder and Chairman Atsushi Taira, who are highly experienced investors and serial entrepreneurs. The acquisition is contingent upon regulatory approval and is expected to be completed this year.
Following the acquisition, a fresh brand identity will be unveiled to signify the firm's commitment to cultivating groundbreaking technologies across the region. The strategic initiative aims to enhance support, development, and expansion of startups poised to transform the world, spanning from Singapore to the greater Pan-Asian market.
Taizo Son and Atsushi Taira are innovative and socially conscious entrepreneurs who are dedicated to creating positive change through technology and business. The Edgeof was established to build upon Mistletoe's eight-year legacy of nurturing over 170 innovative startups committed to social and environmental sustainability.
"Through this acquisition, we aspire to build an ecosystem that enables visionary entrepreneurs and their startups to effect significant, positive societal change," said Atsushi Taira, Co-Founder, Chairman of The Edgeof.
Taizo Son, Founder, The Edgeof, said, "We are confident that our collective strengths and resources will ignite a new era of revolutionary technologies and solutions, establishing us as a prominent influence in developing and expanding αStartups worldwide."
JP Lee, CEO of SBVA, said, "We are excited to commence this new journey with The Edgeof. By joining forces, SBVA will be able to leverage its expertise, insights, and network to support visionary entrepreneurs in their endeavours and enable them to make a lasting global impact that transcends Asia."
Yoshimitsu Goto, Board Director, Corporate Officer, Senior Vice President, SBG, said, “SoftBank Ventures Asia has invested in and supported the growth of innovative technology startups with global potential. I believe that The Edgeof, run by leaders with extensive knowledge and excellent track record in startup investment, will further strengthen the ecosystem for tech startups."
The Edgeof is committed to creating a sustainable and better world by tackling pressing global challenges, such as climate change and sustainability, through innovative initiatives. The new entity aims to be Asia's leading Venture Capital and Ecosystem Builder, helping αStartups expand across borders and grow exponentially.
αStartups are distinguished by their radical innovation, positive impact, and potential to scale globally. It will trigger fundamental changes in energy, water, agriculture, food, sustainability, AI/robot-driven changes in societies, healthcare, learning, and all things essential for the next generations.
Both The Edgeof and SBVA bring unique strengths to the newly formed entity. The Edgeof has strong expertise in establishing a collaborative community that fosters peer-to-peer communication, serendipitous encounters, and strategic connections among founders, investors, and partners. Meanwhile, SBVA will identify and invest in promising αStartups based in Asia or those with a global presence interested in the Asian market. To support the full lifecycle of these startups, multiple funds will be established, ranging from early to growth stages, enabling co-investment alongside similar-minded investors. Building strong relationships with LP investors and corporate partners will be a priority for the newly formed entity.
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About The Edgeof
On March 2, 2023, The Edgeof was founded in Singapore by Taizo Son, a serial entrepreneur and startup investor, and Atsushi Taira, a seasoned startup investor, with an aim to transform the startup ecosystem across Asia by creating a supportive environment for αStartups. αStartups are startups with a vision to improve our world with advanced technology and global scalability in critical domains to solve fundamental problems and make positive social changes. The Edgeof aims to discover, support and invest in such αStartups and build a thriving ecosystem by connecting like-minded investors, researchers, advisors and partners around them.
About SoftBank Ventures Asia
Founded in 2000, SoftBank Ventures Asia is an early-stage venture capital firm based in Seoul and currently operates approx.$2B funds under management. Since its inception, SoftBank Ventures Asia has focused on ICT investments, including AI, IoT, and smart robotics, with global investment professionals in Seoul, Beijing, Singapore, and San Francisco. SoftBank Ventures Asia will continue to invest in innovative technology startups with solid growth potential and actively support their global business expansion, joint venture establishment, and M&A processes through its expertise and network.
About SoftBank Group
The SoftBank Group invests in breakthrough technology to improve the quality of life for people around the world. The SoftBank Group is comprised of SoftBank Group Corp. (TOKYO: 9984), an investment holding company that includes stakes in AI, smart robotics, IoT, telecommunications, internet services, and clean energy technology providers; the SoftBank Vision Funds and SoftBank Latin America Funds, which are investing more than US$160 billion to help extraordinary entrepreneurs transform industries and shape new ones. To learn more, please visit https://group.softbank/en.
About Mistletoe
Founded by Taizo Son in 2014, Mistletoe is a Collective Impact Community inaugurated in Japan and Global Headquarter in Singapore with a mission to create a sustainable humanity-centered future using deep technologies. Their international community comprises more than 400 entrepreneurs, investors, researchers, and visionaries who are at the forefront of the global startup movement. They are building an environment for various talents to come together and discover solutions to societal challenges that are impossible for single companies to solve alone. Mistletoe invested in more than 250 startups and VCs across various countries such as Japan, Silicon Valley, Southeast Asia, India and Northern Europe.
For more information, contact:
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The Edgeof
Joseph Ng
Manager, Redhill
Mobile - +65-8121-1665
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Khadijah Malik
Account Executive
Mobile- +65-9699-4927
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SoftBank Ventures Asia