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　　SoftBank Group announced today that its Vision Fund CEO Rajeev Misra will resign as SoftBank Group Executive Vice President. But retains the post of director of SoftBank Investment Advisers.

　　Misra's departure comes as SoftBank posted its biggest quarterly loss on record for the second straight quarter, largely as market turmoil weighed heavily on SoftBank's technology portfolio.

　　Misra, 60, will continue to serve as the head of SoftBank Investment Advisors after stepping down as executive vice president of SoftBank Group. SoftBank Investment Advisors primarily helps manage existing investments in the Vision Fund, which will be managed by SoftBank Group founder Masayoshi Son himself.

　　Misra is Son's right-hand man and one of the core founders of SoftBank. In 2017, Misra helped Masayoshi Son build a $100 billion Vision Fund, turning SoftBank into the world's largest technology investor.

　　After its early investment success, SoftBank began pouring money into a string of startups in the U.S., China, India and other countries in search of the next big hit. But SoftBank’s investments have since soured, including an investment in co-working giant WeWork.

　　Shares of some of SoftBank-backed listed companies, such as South Korean e-commerce firm Coupang, U.S. ride-hailing firm Uber Technologies and U.S. food delivery operator DoorDash, tumbled amid a sell-off in global stock markets.

　　Over a five-year period, SoftBank has invested more than $140 billion. Earlier this month, SoftBank Group released its financial report for the first quarter of fiscal 2022, which ended on June 30, with a net loss of 3.16 trillion yen (about $23.4 billion). quarterly losses. In the fourth quarter of fiscal 2021, which ended on March 31 this year, SoftBank has lost 2.1 trillion yen (about 16.2 billion U.S. dollars).

　　In fact, it was reported in July that Misra would be phasing out SoftBank to start his own business and is currently raising money for a new fund. Misra had secured more than $6 billion in backing for a new fund, including investors from the Middle East, people familiar with the matter said at the time. Separately, Misra's former colleague Akshay Naheta will join the fund.