For the second day in a row, SoftBank has announced a billion-dollar investment out of its massive Vision Fund. The Japanese telecom giant has tapped the vehicle to lead a $1.1 billion financing for Roivant Sciences, which comes a day after the Vision Fund agreed to lead a $1 billion round for online sports retailer Fanatics.
The two fundings represent the vehicle’s wide-ranging investment thesis: The Vision Fund is characterized as a global tech vehicle, and its investments to date have been a mixed bag. Roivant is the second biotech company to benefit from the fund, following a $360 million investment in May in Guardant Health, the developer of a blood test meant to monitor cancer treatment. Roivant, meanwhile, develops and commercializes treatments through subsidiary biopharmaceutical companies, including one focused on women’s health and another focused on dermatology.