SoftBank ‘set to invest $100m’ in Behavox

SoftBank’s Vision Fund is reportedly set to invest $100 million in British artificial intelligence (AI) and compliance startup Behavox.

The Japanese’s investment behemoth’s second Vision Fund could be ready to announce a deal next week, according to Sky News.

The business was launched in London, and now has its headquarters in New York, with offices in the US, Canada and Singapore. It offers financial institutions AI-based tools to monitor employee behaviour and improve compliance processes. The technology can be used to identify patterns and trend that alert management to possible rogue behaviour and wrongdoing such as rogue trading, bribery and expenses claims.

The first Vision Fund, which invested a record $100 billion in tech giants such as Uber and WeWork, has attracted criticism after writing down investments by 99 per cent; fuelling debate over inflated company valuations.

SoftBank is currently raising funds for the second Vision Fund and this week was reported to have committed a further $2.5 billion of its own money in a bid to secure further investment.

Behavox did not respond to a request for comment on the report.

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