Briefing Venture

The Briefing: SoftBank Vision Fund Execs Depart, Conductor Raises $150M, And More

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Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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SoftBank Vision Fund sees spate of exec departures

A spate of high-level leaders have departed SoftBank‘s $100 billion Vision Fund in recent weeks, including Chief Operating Officer Ruwan Weerasekera, Bloomberg reported Monday. Neil Hadley, who’s also chief of staff to Vision Fund CEO Rajeev Misra, is stepping into the COO role in addition to his other duties, Bloomberg reported.

Weerasekera’s departure is a retirement, the company said. His exit follows several other executive departures at the Vision Fund in recent months, Bloomberg reported. Other departures include Penny Bodle, a partner who headed investor relations; Avi Golan, an operating partner who left to become CEO of artificial intelligence software maker AnyVision; and U.K. Chief Risk Officer Maria Khan. Investing partners Ted Fike and Justin Wilson also recently resigned from SoftBank to join billionaire investor Alec GoresThe Gores Group.

Viking Global leads Conductor’s $150M raise

Conductor, a Brazil-based card issuing and banking-as-a-service software platform, raised $150 million in a round led by Viking Global Investors, with additional participation from investors including Sunley House Capital.

This is Viking Global’s first private investment in Latin America, the company said.

Conductor intends to use the new funds on product development and international growth. It currently manages more than 85 million accounts and processes more than $20 billion in payment volume across Latin America.

Communications platform Zego raises $50M in Tencent-led round

Shenzen-based Zego,  a provider of a real-time audio and video communications platform, reportedly raised $50 million in a funding round led by Tencent.

Qiming Venture Partners and IDG Capital also participated in the financing for the company, which did not disclose a valuation. The company was founded by Lin Youyao, the former general manager of Tencent QQ, and four former senior directors of Tencent.

The company offers a Zoom-like videoconferencing tool called TalkLine.  Its technology is used in game streaming platforms, online classes and for enterprises shifting to remote work amid the pandemic.

Funding rounds

Other news

  • US Agency to “vigorously defend” TikTok ban: The U.S Commerce Department said it would “vigorously defend” an executive order that seeks to bar transactions with short video-sharing app TikTok after a federal judge halted the action. The federal judge on Friday blocked the Commerce Department order, which was set to take effect on Nov. 12.

Illustration: Dom Guzman

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