Softbank's UK fund makes first investment

Softbank, the Japanese venture capital firm, has debuted its newly formed $450m UK fund with a $16.5m investment in Ripcord Systems, a London-based developer of wireless products.

Softbank raised the fund to focus on early-stage technology investments in the UK. The funding for Ripcord is its first round, and will be used as the springboard from which to grow the company.

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