Rajeev Misra to Step Back From Top Executive Role at SoftBank

Rajeev Misra, who runs SoftBank Group Corp.’s giant venture-investing arm, will step back from his role to run a new outside investment outfit, according to a company memo.

Mr. Misra came to SoftBank in 2014 and helped turn it into the biggest and most controversial technology investor in the world. With an unrivaled $100 billion to spend and a cutthroat internal culture that led to poor investment decisions, it was almost single-handedly responsible for pumping up valuations across Silicon Valley and beyond.