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

Trendingnow

1

The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line

2

Tim Cook signed off on his final Apple earnings call with a warning about a ‘100-year flood’ in memory chip pricing

3

He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead

1

The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line

2

Tim Cook signed off on his final Apple earnings call with a warning about a ‘100-year flood’ in memory chip pricing

3

He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead
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
Add Fortune on Google for similar content.

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
Add Fortune on Google for similar content.

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
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • 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
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Newsletters

What every founder can learn from Reformation’s $211 million IPO
NewslettersMPW Daily
What every founder can learn from Reformation’s $211 million IPO
By Emma HinchliffeJuly 31, 2026
7 hours ago
Sports teams have gone from trophies to trillion-dollar investment targets
NewslettersTerm Sheet
Sports teams have gone from trophies to trillion-dollar investment targets
By Allie GarfinkleJuly 31, 2026
13 hours ago
Apple CEO Tim Cook on June 08, 2026 in Cupertino, California. (Photo: Justin Sullivan/Getty Images)
NewslettersFortune Tech
Tim Cook takes his final earnings call as Apple feels the supply pain
By Andrew NuscaJuly 31, 2026
13 hours ago
Photo: Kevin Warsh
NewslettersMarkets
‘Mutiny, if need be’: At the Fed, ‘Warsh can suppress dissent only so much,’ over credibility-testing interest rate decision, Macquarie says
By Jim EdwardsJuly 31, 2026
13 hours ago
A 103-year-old company says it has a plan to make AI data centers ‘water-neutral’
NewslettersCEO Daily
A 103-year-old company says it has a plan to make AI data centers ‘water-neutral’
By Diane BradyJuly 31, 2026
14 hours ago
Dow COO Karen Carter wearing a white lab coat and sitting while smiling
NewslettersMPW Daily
Dow’s brand-new CEO is blessed to be stressed
By Emma HinchliffeJuly 30, 2026
1 day ago

Most Popular

The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line
Retail
The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line
By Tatiana SatauaJuly 31, 2026
16 hours ago
Tim Cook signed off on his final Apple earnings call with a warning about a ‘100-year flood’ in memory chip pricing
Big Tech
Tim Cook signed off on his final Apple earnings call with a warning about a ‘100-year flood’ in memory chip pricing
By Alexei OreskovicJuly 30, 2026
23 hours ago
He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead
Success
He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead
By Preston ForeJuly 29, 2026
2 days ago
Costco's $14 million email settlement: Who qualifies for an up-to $500 payment and how to claim before the Aug. 24 deadline
Retail
Costco's $14 million email settlement: Who qualifies for an up-to $500 payment and how to claim before the Aug. 24 deadline
By Sydney LakeJuly 29, 2026
2 days ago
Millennials say they’ll refuse to care for aging boomer parents—but they’ll be forced to as their inheritance shrinks to 40 cents on the dollar
Personal Finance
Millennials say they’ll refuse to care for aging boomer parents—but they’ll be forced to as their inheritance shrinks to 40 cents on the dollar
By Nick LichtenbergJuly 31, 2026
16 hours ago
The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'
Real Estate
The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'
By Nick LichtenbergJuly 25, 2026
6 days ago

© 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.