SOFTBANK is said to be close to investing $100m (£77m) in a UK startup which uses artificial intelligence (AI) to help financial firms monitor employee behaviour.

Softbank's second Vision Fund is could finalise a deal with Behavox as soon as next week, Sky News reported, Behavox, which was founded in the UK in 2014 but is now based in New York, uses AI to help financial services companies spot signs of wrongdoing among employees, including rogue trading, bribery, and misuse of expenses.

One source told Sky News that Softbank would invest in Behavox through its second Vision Fund, after the investment period for its initial $100bn Vision Fund concluded in September.

The Japanese conglomerate's first Vision Fund was the largest ever pool of technology investment capital ever raised.

Softbank is in the process of fundraising for Vision Fund II, but founder Masayoshi Son has struggled to drum up external support for the vehicle.

(c) 2020 City A.M., source Newspaper