The Edgeof, a recently established ecosystem developer and venture capital firm in Singapore, declared on Wednesday that it would buy SoftBank Ventures Asia Corp (SBVA), a fully owned subsidiary of Japanese investment bank SoftBank Group Corp. (SBG), in order to create a Pan-Asian ecosystem for trailblazing startups.
The plans have been approved by both The Edgeof and SBG, according to a joint statement.
The acquisition, which depends on regulatory approval, is anticipated to be finished this year.
After the acquisition, a new brand identity will be unveiled to reflect the company’s dedication to fostering ground-breaking technologies in the area.
From Singapore to the larger Pan-Asian market, the strategic initiative seeks to improve support, development, and expansion of startups poised to change the world.
“Through this acquisition, we aspire to build an ecosystem that enables visionary entrepreneurs and their startups to effect significant, positive societal change,” said Atsushi Taira, Co-Founder, Chairman of The Edgeof.
In order to change the startup ecosystem throughout Asia by fostering a positive environment for startups, Taizo Son, a serial entrepreneur and startup investor, and Atsushi Taira founded The Edgeof in Singapore in March.
Startups are defined as businesses that have the potential to change the world through the application of cutting-edge technology and global scalability in key industries.
By bringing together like-minded investors, researchers, advisors, and partners around them, The Edgeof aims to find, support, and invest in such startups and create a thriving ecosystem.
Entrepreneurs Taizo Son and Atsushi Taira are committed to bringing about positive change through technology and business. They are creative and socially conscious.
In order to continue Mistletoe’s eight-year tradition of supporting more than 170 creative startups devoted to social and environmental sustainability, The Edgeof was founded.
“We are confident that our collective strengths and resources will ignite a new era of revolutionary technologies and solutions, establishing us as a prominent influence in developing and expanding αStartups worldwide,” said Taizo Son, Founder of The Edgeof.
The Edgeof is dedicated to fostering a more sustainable and improved world by addressing urgent issues like climate change and sustainability through creative projects.