Some of the best investments that Silicon Valley has been chasing after can be found on just one stock: Softbank, hedge funder Glen Kacher told CNBC on Wednesday.
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The founder and chief investment officer of Light Street Capital, based in Palo Alto, California, called the Japanese conglomerate an « incredible opportunity. » SoftBank is the firm’s largest equity holding.
« Their stake in Alibaba is their entire market cap. They also own incredible assets, » including a big stake in Yahoo Japan and Sprint, which is awaiting approval of its merger with T-Mobile, Kacher said in an interview with Leslie Picker on « Fast Money: Halftime Report. »
« They’ve got the Vision Fund, which is an incredible business operation where they’re shooting guided missiles [of cash] at the best companies…, right? They want to be investors in these companies. And the investors in Silicon Valley are running around with rifles and pistols investing in these companies. »
Kacher founded the hedge fund, which largely focuses on tech, in 2010. It has $1.4 billion in assets under management. Its second-largest stock holding is Amazon.
He said he doesn’t expect SoftBank to disrupt the venture capital community but instead succeed side by side with it. « It’s an incredible opportunity for the individual investor as well as the institutional investor like us to get real exposure to this incredible growth part of the industry where Softbank is investing. »
— CNBC’s Laura Batchelor contributed to this report.