SoftBank's investment unit suffers loss as tech valuations tumble

SoftBank Group. The investment unit of the company has reported a loss of more than a quarter, hurt by the sluggish valuations throughout the technology landscape.

A collapse in valuations last year has pummeled the global tech investor who holds stakes in hundreds of startups. Writedowns in closely held companies outweighed a modest recovery in SoftBank's listed investments, such as Didi Global and Grab Holdings. As much as the valuations have fallen, investors remain concerned that there may be further cuts yet to come.

The Vision Fund segment lost 660 billion dollars in the three months through December for its fourth straight quarter in the red, according to a release Tuesday. SoftBank Group, as a whole, had a net loss of 783.4 billion, missing the analyst estimate of 205.9 billion.

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