In a significant move, SoftBank has brought on board its first venture partner for the $100 billion Vision Fund. Kirthiga Reddy, a former executive with Facebook, has taken up the role and becomes the first female investing partner with SoftBank’s Vision Fund team.
Reddy’s Background and Expertise
Kirthiga Reddy spent eight years at Facebook, mostly as managing director for its business in India and Southeast Asia. During her tenure, she led various initiatives to grow the company’s presence in these regions. Before joining Facebook, she worked with Microsoft Corporation in Bangalore.
New Role and Responsibilities
As a venture partner with SoftBank’s Vision Fund team, Reddy will work closely with Deep Nishar, senior managing partner at SoftBank Investment Advisors. The two will focus on investing in frontier technologies such as AI, robotics, health, bio-engineering, IoT, and more.
In an interview with Bloomberg, Reddy revealed that she is ‘actively recruiting’ for the firm, especially for female investors. She expressed her excitement about joining the Vision Fund team and contributing to their mission of positively shaping the future by backing transformative ideas.
Reddy’s Comment on Her New Role
"I look forward to contributing to their mission to positively shape the future by seeking to back the boldest, most transformative optimistic, and ideas of today. Like in other investment firms, the Venture Partner role enables quick integration of new talent from non-investing backgrounds, which is a perfect fit for me."
SoftBank’s Efforts to Increase Diversity
The Vision Fund has been criticized for an all-male cast of 10 deal-makers. SoftBank founder Masayoshi Son said in September that he has ‘no prejudice of any kind,’ and first-in-command Rajeev Misra has led an effort to hire women for the team.
Reddy’s LinkedIn Post
In a post on LinkedIn announcing her move, Reddy wrote: "I look forward to bringing my technical and business expertise – from both enterprise and consumer technology, in developed and emerging markets – to the Vision Fund team."
Significance of Reddy’s Appointment
Reddy’s appointment as SoftBank’s first female investing partner is significant for several reasons. It marks a milestone for diversity and inclusion in the investment industry, which has long been criticized for its lack of representation from women.
Reddy’s expertise and background make her an excellent fit for the role. Her experience working with Facebook and Microsoft will be invaluable in identifying and evaluating investment opportunities.
Impact on the Investment Industry
The appointment of Reddy as SoftBank’s first female investing partner sends a strong message to the investment industry. It demonstrates SoftBank’s commitment to increasing diversity and inclusion, which is essential for driving growth and success.
Reddy’s appointment also highlights the importance of having a diverse range of perspectives and experiences in the investment industry. Her expertise will bring a fresh perspective to the Vision Fund team and help drive innovation and growth.
Conclusion
SoftBank’s appointment of Kirthiga Reddy as its first female investing partner is a significant step towards increasing diversity and inclusion in the investment industry. With her extensive experience and background, Reddy is well-positioned to contribute to SoftBank’s mission of positively shaping the future through transformative investments.
The move is also a testament to SoftBank’s commitment to creating a more diverse and inclusive workplace culture. The appointment of Reddy will undoubtedly pave the way for other women to join the investment industry and drive growth and innovation.
Appendix
- Kirthiga Reddy’s LinkedIn Profile: https://www.linkedin.com/in/kirthigareddy/
- SoftBank Vision Fund Website: https://www.softbankvisionfund.com/
- Bloomberg Article on Reddy’s Appointment: https://www.bloomberg.com/news/articles/2023-09-20/softbank-hires-first-female-investing-partner-for-vision-fund