(Bloomberg) -- SoftBank Group Corp. appointed an executive committee to oversee its second Vision Fund, Latin America funds and future vehicles, its chairman Masayoshi Son said in a staff memo seen by Bloomberg News. 

Alex Clavel will oversee investing teams in the US and Latin America while Greg Moon will run the teams in Europe and Asia, and Navneet Govil will lead “functional” or non-investment teams such as finance and compliance, Son said. A SoftBank spokesman confirmed the memo’s contents and declined to comment further. 

“I’m more excited than ever about SoftBank’s future,” wrote Son, reiterating his company’s mission to “harness the power of AI to promote a more connected, empowered, and joyful world.” Some $160 billion has been committed to more than 400 companies via SoftBank’s first and second Vision Funds, as well as its Latin America funds. “There is so much upside. All eyes are on us, as the world’s leading tech investor,” Son added.

The move follows a decision by SoftBank Investment Advisers CEO Rajeev Misra to establish a new firm, One Investment Management, and step back from some responsibilities at the Japanese conglomerate. Misra will retain his CEO role, with a primary focus on SoftBank’s first Vision Fund, and will become vice chairman of SB Global Advisers Ltd., which manages Vision Fund 2 and Latin America funds. 

“He has been a key architect of the Vision Funds, he remains an important member of the family, and I am grateful for his continued partnership,” Son wrote. 

Softbank laid off employees within its Vision Fund unit last month, after posting a record $23 billion loss driven by a plunge in the valuations of portfolio companies such as South Korea’s Coupang Inc. and DoorDash Inc. 

Its second Vision Fund has backed companies including WeWork Inc., Qualtrics International Inc. and Exscientia Plc, while its Latam funds have invested in Satellogic Inc. and Banco Inter, among others, filings show. 

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