Softbank Invests $2.5Bn in Flipkart to become one of the largest shareholders in the company from its Vision Fund, the world’s largest technology-focused investment fund.

This is the biggest ever private investment in an Indian technology company, and will make the Vision Fund one of the largest shareholders in Flipkart.

The investment is part of the previously announced financing round, where Flipkart had raised capital from three of the world’s premier technology companies — Tencent, eBay and Microsoft. After this financing round, Flipkart will have in excess of $4 billion of cash on its balance sheet.

Related: 11 Indian Startups Which Succeed Without VC Funds

“This is a monumental deal for Flipkart and India. Very few economies globally attract such overwhelming interest from top-tier investors.

It is recognition of India’s unparalleled potential to become a leader in technology and e-commerce on a massive scale. SoftBank’s proven track record of partnering with transformative technology leaders has earned it the reputation of being a visionary investor.

We’re excited to welcome the Vision Fund as a long-term partner as we continue to build our business with a focus on serving the needs of all Indians, and driving the next phase of technology adoption in India,” said Binny Bansal and Sachin Bansal, Co-Founders of Flipkart.

Flipkart or Softbank did not disclose an amount, the total investment by SoftBank Vision Fund is pegged at $2.5-2.6 billion making it the largest shareholder in the company, according to one source briefed on the matter, as per ET.

The Vision Fund announced an initial $93 billion close in May, but SoftBank is targeting a total close of $100 billion. The fund includes Apple, Qualcomm, UAE-based Mubadala Investment Company, Saudi Arabia’s PID public fund, Foxconn, and Foxconn-owned Sharp among its LP base. Early deals include ARM, Nvidia, Roivant Sciences, Improbable, Brain Corp, Plenty, SoFi and Guardant Health.

Related:  How Sachin Bansal Started – Life of Flipkart Founder [ Infographics ]

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