In response to a decline in the value of its tech portfolio, Japan's SoftBank Group Corp reported a 2.33 trillion yen ($17.25 billion) loss at its Vision Fund unit for the April-June quarter.
In May, market uncertainty brought on by rising interest rates and political unrest cost SoftBank a record loss at the Vision Fund unit.
The latest quarter's net loss for the group was $33.4 billion, or 3.16 trillion yen, due to its declining portfolio. This contrasted with a profit of 563.75 million dollars or 761.5 billion yen in the same time last year.
Masayoshi Son, the founder and CEO of SoftBank, has promised to tighten investment standards and hold onto capital to weather the slump. Son will appear at an earnings briefing at 07:30 GMT.
Robotics company AutoStore Holdings and artificial intelligence company SenseTime Group were among the listed investments that declined during the quarter that ended in June.
SoftBank reported that the value of the private investments made by Vision Fund resulted in a loss of 296 billion yen ($219.13m). Writedowns of private assets, according to analysts, are unlikely to accurately represent the severity of the current market gloom.
SoftBank, which plans to list chip designer Arm after a failed sale to Nvidia, has seen a key source of funding pinched by falling IPO volumes and market scepticism over failing firms.
The selloff has hit hedge fund Tiger Global, which competes with “unicorn hunter” Son on deals and saw its flagship fund fall 50 percent in the first half of the year after it underestimated the impact of surging inflation on markets.