Rajeev Misra’s OneIM Upsizes To $8 Billion To Boost Investments

One Investment Management, a fund set up by SoftBank Vision Fund’s former co-chief executive officer Rajeev Misra, has upped its size by more than $1 billion this month to support its growing operations as it opens offices in countries such as Japan and India, according to people familiar with the matter.

The fundraising has increased OneIM’s size to $8 billion, the people said, asking not to be named as the information is not public. The two-year-old fund plans to open an office in New Delhi, adding to its presence in New York, London, Abu Dhabi and Tokyo, they said.

OneIM is backed by Abu Dhabi conglomerate Royal Group and Mubadala Investment Co., one of the emirate’s sovereign wealth funds, Bloomberg News reported earlier. The investment vehicle will look for lending and investment opportunities globally, and some of these deals could be in partnership with its existing backers, the people said. 

The fund has hired 10 people this year, taking the total headcount to about 50, one of the people said. The firm’s investment professionals — led by long-time lieutenants Munish Varma and Yanni Pipilis, both of whom worked with Misra at Deutsche Bank AG and Vision Fund — were so far scouring for capital deployment opportunities mainly in the US and Europe.

A spokesperson for OneIM declined to comment.

Private credit firm Oak Hill Advisors tied up with OneIM for a venture to invest in the upper mid-market and large European companies by providing loans, including first-lien and unitranches, Bloomberg had reported.

Misra stepped down as co-chief executive officer of SoftBank’s Vision Fund earlier this month, bringing to close a tumultuous tenure at the helm of the largest-ever venture capital fund. The former Deutsche Bank trader was instrumental in helping SoftBank founder Masayoshi Son set up the Vision Fund in 2017, helping him raise nearly $100 billion from Saudi Arabia, the United Arab Emirates and other backers.