• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
NewslettersTerm Sheet

Three massive numbers to watch in the world of deals

Lucinda Shen
By
Lucinda Shen
Lucinda Shen
Down Arrow Button Icon
Lucinda Shen
By
Lucinda Shen
Lucinda Shen
Down Arrow Button Icon
April 13, 2020, 9:38 AM ET

This is the web version of Term Sheet, Fortune’s newsletter about deals and dealmakers. Sign up here.

Here are the three big numbers to watch as the week kicks off. 

$16.5 billion

The problem with being a mega-private fund housed within a public company: You lose the safety and security of, well, being private.

On Monday, Japanese telecom giant SoftBank revealed that its massive $100 billion Vision Fund expects a loss of about $16.5 billion (¥1.8 trillion)—pushing the overall group to its first estimated operating loss in 15 years: $12.5 billion ((¥1.35 trillion) for the year ending March 31.

The negatives also stem from holdings outside of Vision Fund, with losses of $7.4 billion (¥800 billion) on the likes of  WeWork’s parent company and on satellite operator OneWeb, which recently filed for Chapter 11 bankruptcy protection.

It’s a breakdown you’d be hard-pressed to find from any other venture capital firm or corporate venture shop, which have no obligation to reveal their numbers publicly or have shops housed within a multibillion corporation that are too miniscule to make any dents on earnings.

Unfortunately that’s not the case for SoftBank or its bets. The telecom giant has drawn endless fascination over its megarounds—but also endless and easy scrutiny as its sizable private bets eat into the parent company’s very much public financial statements. 

$168 billion(?)

White House economic adviser Larry Kudlow says the U.S. has approved loans worth $168 billion to 661,000 small businesses as part of a coronavirus-induced $350 billion stimulus package to the sector. He estimates the funding will run out by April 17.

But take it with a grain of salt. It doesn’t mean said businesses have already received their funding, and raises questions about what Kudlow means by “approved.” Banks themselves are currently understaffed when it comes to the deluge of claims—potentially fraudulent ones—which raises more questions about whether or not businesses will be eligible for forgiveness down the line. Most agree that the funding will run out—but there are politics at play. The numbers come as the Republican-led administration is requesting an additional $250 billion for the program, while Democrats are declining to sign off on the bill without “also adding hundreds of billions for hospitals, cities and states and food stamp recipients.” Read more.

$3 billion

One of the biggest winners from Zoom’s surge? 91-year-old real estate mogul Li Ka-shing, who owns about 8.6% of the video conference company that has taken off amid a socially-distanced economy. Li owns Zoom shares through Horizons Ventures, which led Zoom’s $6.5 million Series B in 2013 and later participated in its $30 million Series C. 

That stake is now worth, you guessed it, $3 billion. Read more.

VENTURE DEALS

- Thrasio, a New York City-based acquirer of Amazon third-party private label businesses, raised $75 million in Series B funding and $35 million in debt. Existing investors led the round, and was joined by investors including Peak6, Upper90, WTI, and River Park Ventures. The round values Thrasio at $700 million.

- Kargo, a Jakarta-based logistics startup cofounded by forUber Asia executive Tiger Fang, raised $31 million in Series A funding. Tenaya Capital,  Sequoia India, Mirae Asset Management, and Intudo Ventures invested. Read more.

- Darmiyan, Inc., a San Francisco, Calf.-based developer of brain diagnostics, raised $6 million in an initial closing of Seed funding. Eisai led the round, and was joined by investors including IT-Farm and Y-Combinator (YC).

- AcreTrader, a Fayetteville, Ark.-based online farmland investing platform, raised $5 million in Seed funding.  RZC Investments led the round and was joined by investors including Revel Partners.

- NextStep, a Seattle, Wash-based mobile-based training platform and job placement company, raised $3.6 million in funding. Springrock Ventures led the round, and was joined by investors including Jazz Venture Partners, Learn Capital’s LearnStart fund, and the managing directors of Pioneer Square Labs. Read more.

PRIVATE EQUITY

- Direct Healthcare Group, backed by ArchiMed, acquired the Patient Handling Europe division of Handicare, Stockholm, Sweden-based provider of solutions for patients with limited mobility. Financial terms weren't disclosed.

- A consortium led by Northern Private Capital completed the acquisition of MDA,  a Canadian space technology developer and manufacturer, from Maxar Technologies (NYSE: MAXR).  The C$1 billion acquisition was made with a mix of stock and equity.

- Lineage Capital invested in City Rise Safety, a Lodi, Calif.-based provider of traffic control services. Financial terms weren't disclosed.

OTHERS

- Johnson & Johnson (NYSE: JNJ) abandoned plans to buy Japanese drugmaker Takeda Pharmaceutical’s surgical patch business TachoSil, the Federal Trade Commission said. Johnson & Johnson subsidiary Ethicon planned to buy the company for $400 million. Read more.

F+FS

- GCM Grosvenor completed the final close for its Co-Investment Opportunities Fund II with $540 million in committed capital.

- Direct Capital Private Equity raised NZ$416 million for its sixth fund. Direct Capital VI fund previously targeted NZ$450 million. Read more.

PEOPLE

- Bessemer Venture Partners promoted Tomer Diari to Vice President.

About the Author
Lucinda Shen
By Lucinda Shen
See full bioRight Arrow Button Icon

Latest in Newsletters

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Fortune Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.


Most Popular

placeholder alt text
Economy
Elon Musk warns the U.S. is '1,000% going to go bankrupt' unless AI and robotics save the economy from crushing debt
By Jason MaFebruary 7, 2026
1 day ago
placeholder alt text
Success
Gen Z Patriots quarterback Drake Maye still drives a 2015 pickup truck even after it broke down on the highway—despite his $37 million contract
By Sasha RogelbergFebruary 7, 2026
2 days ago
placeholder alt text
Economy
Russian officials are warning Putin that a financial crisis could arrive this summer, report says, while his war on Ukraine becomes too big to fail
By Jason MaFebruary 8, 2026
9 hours ago
placeholder alt text
Success
Even with $850 billion to his name, Elon Musk admits ‘money can’t buy happiness.’ But billionaire Mark Cuban says it’s not so simple
By Preston ForeFebruary 6, 2026
3 days ago
placeholder alt text
Commentary
America marks its 250th birthday with a fading dream—the first time that younger generations will make less than their parents
By Mark Robert Rank and The ConversationFebruary 8, 2026
18 hours ago
placeholder alt text
Future of Work
Anthropic cofounder says studying the humanities will be 'more important than ever' and reveals what the AI company looks for when hiring
By Jason MaFebruary 7, 2026
2 days ago

Latest in Newsletters

NewslettersMPW Daily
Inside the Kansas City Chiefs’ strategy to attract female fans—and what the rest of the NFL can learn ahead of the Super Bowl
By Emma HinchliffeFebruary 6, 2026
3 days ago
Woman with blonde hair sitting on stage
Newsletterssuccess
Skier Lindsey Vonn is competing in the 2026 Winter Olympics despite a ruptured ACL: She says grit is the most important quality in life and business
By Emma HinchliffeFebruary 6, 2026
3 days ago
NewslettersCFO Daily
How e.l.f. Beauty has used Super Bowl ads to rocket from 10% brand awareness to 40%
By Sheryl EstradaFebruary 6, 2026
3 days ago
Image of Moltbook app logo on a smart phone with another image of the Moltbook logo in the background.
NewslettersTerm Sheet
Moltbook is the talk of Silicon Valley. But the furor is eerily reminiscent of a 2017 Facebook research experiment
By Allie GarfinkleFebruary 6, 2026
3 days ago
NewslettersFortune Tech
Gemini takes a bite out of ChatGPT share
By Alexei OreskovicFebruary 6, 2026
3 days ago
NewslettersCEO Daily
Disney’s Bob Iger achieves an essential feat for outgoing CEOs: giving his successor a clean slate
By Diane BradyFebruary 6, 2026
3 days ago