SoftBank announced on Tuesday that Rajeev Misra, co-CEO of the Vision Fund, will be exiting the firm.

Misra, a significant figure in the development of the Vision Fund, will pass his responsibilities to Alex Clavel, who will become the sole CEO of SoftBank’s Investment Advisers (SBIA) and SoftBank Global Advisers (SBGA). The announcement was made during SoftBank’s second-quarter earnings call.

Yoshimitsu Goto, SoftBank’s Chief Financial Officer, commended Misra’s contributions, describing him as a close friend and expressing gratitude for his impactful work with the company.

Misra was instrumental in shaping the Vision Fund alongside SoftBank founder Masayoshi Son, pioneering early investments in Alibaba Group Holding and leading funding in various high-growth startups across the US, China, and India.

Misra’s exit marks the end of his formal role at SoftBank, although he will continue to be involved in the investment world through his own fund, One Investment Management.

Launched in 2023, the fund raised USD 7 billion in its first close and is focused on investments in the US and Europe, with selective opportunities in India. One of its first investments was in Shapoorji Pallonji debt, a significant move within the Indian market.

“Does that mean complete goodbye to Rajiv? I don’t think so. I think we are going to keep communicating with him in some way, and I am sure he is going to visit Japan from time to time. I will keep getting in touch with him, but as a management team, for example, that kind of relationship and role is over,” said Goto.