SoftBank Nominates Venture Capital Veteran Chao to Its Board

SoftBank Group Corp. named venture capitalist David Chao to join its board as the Japanese tech investor tries to regain its footing from money-losing investments.

Chao is a co-founder and general partner at DCM, a venture capital firm with over $4 billion under management. The firm has invested in more than 400 tech companies in the U.S. and Asia since 1996, according to its website. Chao will replace Lip-Bu Tan whose term will end in June as an outside director, SoftBank said in a filing.