SoftBank Vision Fund returned to reinvest in proximity services provider Reef, which has also launched a $300m real estate fund with fellow backer Oaktree Capital Management.

Reef Technology, a US-based provider of infrastructure for on-demand services, raised $700m from investors including telecommunications and internet group SoftBank’s Vision Fund yesterday. Abu Dhabi’s sovereign wealth fund Mubadala Investment Company led the round through its Mubadala Capital fund while financial services firm UBS’s Asset Management unit, venture capital firm Target Global and funds managed…

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