Some of the best investments that Silicon Valley has been chasing after can be found on just one stock: Softbank, hedge funder Glen Kacher told CNBC on Wednesday.
The founder and chief investment officer of Light Street Capital, based in Palo Alto, California, called the Japanese conglomerate an “incredible opportunity.” SoftBank is the firm’s largest equity holding.
“Their stake in Alibaba is their entire market cap. They also own incredible assets,” including a big stake in Yahoo Japan and Sprint, which is awaiting approval of its merger with T-Mobile, Kacher said in an interview with Leslie Picker on “Fast Money: Halftime Report.”
“They’ve got the Vision Fund, which is an incredible business operation where they’re shooting guided missiles [of cash] at the best companies…, right? They want to be investors in these companies. And the investors in Silicon Valley are running around with rifles and pistols investing in these companies.”
Kacher founded the hedge fund, which largely focuses on tech, in 2010. It has $1.4 billion in assets under management. Its second-largest stock holding is Amazon.
He said he doesn’t expect SoftBank to disrupt the venture capital community but instead succeed side by side with it. “It’s an incredible opportunity for the individual investor as well as the institutional investor like us to get real exposure to this incredible growth part of the industry where Softbank is investing.”
— CNBC’s Laura Batchelor contributed to this report.