SoftBank’s recent moves in India indicate a strategic recalibration rather than a retreat, as the global investor balances exits from mature bets with a renewed focus on artificial intelligence and enterprise technology.
Over the past year, SoftBank has executed partial and full exits from several Indian startups through founder buybacks, secondary transactions, and IPO-related stake sales. These include monetisation of holdings in companies such as InMobi, Lenskart, Ola Electric, Delhivery, and FirstCry. According to industry estimates, SoftBank has generated over $7 billion from India exits over the years, largely through public market sell-downs and strategic stake reductions.
However, the firm has pushed back against the narrative that these exits signal a pullback. SoftBank executives have stated that capital recycling is a natural part of portfolio management, especially as IPOs increasingly compete for capital allocation.
At the same time, SoftBank is actively evaluating new opportunities, with artificial intelligence emerging as a central theme. The investor is reported to be in discussions around multiple India-linked AI startups, including platforms focused on enterprise software and cloud infrastructure. These potential bets reflect a preference for scalable, globally relevant business models with predictable revenue streams.
Data shows that SoftBank’s deployment pace has slowed in recent years. After backing 14 Indian startups in 2021, investments dropped sharply in 2022, followed by limited activity in 2023 and 2024. In 2025, the firm did not lead any new rounds but participated in a follow-on investment in payments firm Juspay.
This measured approach aligns with SoftBank’s broader global shift toward capital discipline. The group returned to profitability in FY25, driven by tighter controls and a renewed emphasis on AI and semiconductor-linked opportunities. Industry reports also suggest SoftBank is now open to smaller initial cheque sizes, especially in early-stage AI-driven companies.
Looking ahead, SoftBank continues to hold stakes in several IPO bound Indian startups, including Flipkart and OYO, which are expected to test public markets in the coming years. As India’s AI ecosystem matures, SoftBank appears positioned to re-engage more aggressively when conviction and timing align.
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