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SoftBank to embark on global investment spree of “several billion” dollars per year

SoftBank Group Corp. expects to invest "several billions" of dollars a year in promising startups and established businesses as the company tries to evolve into a truly global corporation and identify its next generation of leaders, Chairman Masayoshi Son said.

SoftBank is searching for passionate entrepreneurs with good ideas who are targeting the right markets – someone like Alibaba Group Holding Ltd. cofounder Jack Ma, Son said Thursday during a two-hour broadcast streamed live on the Internet. SoftBank owns more than 30 percent of Alibaba.

Company President Nikesh Arora has said SoftBank is developing a new model for investing in technology startups, shifting its focus to larger, long-term deals where it sees a competitive advantage.