Japanese tech investor SoftBank’s Vision Fund 2 (SVF2) booked a valuation loss of $42 Mn on its investment in listed Indian electric vehicle (EV) maker Ola Electric in the quarter ended September 2026 (Q2 FY26 as per the investment firm’s nomenclature).

In its investor presentation, SoftBank said that the EV manufacturer’s gross return to the SVF2 stood at $370 Mn in the quarter under review, down $42 Mn (or 10.2%) from $412 Mn in the preceding Q1 FY26. 

The latest gross return figures are almost 30% lower than $556 Mn that the fund claims to have invested in the OEM so far. 

In contrast, other listed Indian startups in SVF2’s portfolio – Lenskart and Meesho – together contributed valuation gains worth $394 Mn to the fund’s kitty in Q2 FY26.

SoftBank said that the Indian omnichannel eyewear giant helped SVF2 rake in an additional $273 Mn in gross returns during the quarter under review. With this, the fund’s total gross gains from Lenskart stood at $1.3 Bn in Q2 FY26, up 27% sequentially from $1 Bn in preceding quarter. 

On similar lines, Meesho added another $121 Mn in gains to SVF2’s corpus in the quarter under review. Overall, the Japanese tech giant’s fund sat on gross gains worth $642 Mn on account of the homegrown ecommerce giant in Q2 FY26, up from $521 Mn in the previous quarter.

“The investment gain at SVF2 reflected increases in the fair values of certain private portfolio companies due to higher valuations in recent transactions as well as higher share prices of certain public portfolio companies, including Meesho Limited and Lenskart Solutions Limited,” added SoftBank in a statement.

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