SoftBank investors are refusing to take part in the Vision Fund 2 unless the Japanese conglomerate turns performance around. The first $100 billion fund has struggled with performance due to investments in WeWork, Uber (NYSE: UBER), and a number of other struggling firms. The first Vision Fund saw a $2.5 billion loss during the December-ending quarter.

Vision Fund 2 Struggles

Reuters reported that Masayoshi Son has struggled to attract certain investors. However, he plans to move forward and use SoftBank capital to launch the new fund. According to the report, Abu Dhabi’s state fund Mubadala and Saudi Arabia’s PIF sovereign wealth fund have not committed to the new fund. They are currently the two largest investors in the first fund.

In addition, Foxconn Technology (a large Apple Inc. (NASDAQ: AAPL) supplier) has pulled out.

The current Vision Fund has $74.6 billion spread across 88 investments.

The Vision Fund 2 said in October that it secured investment pledges from Microsoft Corp. (NASDAQ: MSFT), Apple, and FoxConn, among others. However, Reuters’ report in October suggested that no one has fully committed. Previously, Son had said he would loan money to employees so they could take part in the new fund. The company itself has committed about $38 billion to the new fund.