Softbank reduces Europe fund to $250M.(Softbank Europe Ventures)(Brief Article)

Byline: Robert Walzer

The Softbank Europe Ventures fund, initially set to be capitalized at $600 million, has been halved.

Its parent, Japan's Softbank Corp., will invest $100 million to $150 million less than originally intended, a spokeswoman said. And Softbank Europe Ventures will return $200 million in committed capital to limited partners comprising unnamed corporate funds and wealthy individuals, said David Sola, its managing director.

The fund's size will be $250 million to $300 million and come mostly from the parent company, Sola said. "First-time Softbank funds are largely Softbank money," he said. "In the past, with the market as it was, …