SoftBank Vision Fund 2 has invested $160 million in media firm Iyuno-SDI Group, a subsidiary of the Singapore-based I-YUNO Asia Pte Ltd, according to a statement.

The Japanese mega fund will become one of the largest shareholders in Iyuno-SDI and join its board of directors together with private equity firms Altor and Shamrock Capital Advisors, said David Lee, Iyuno-SDI Group CEO, Shamrock Capital Advisors and SoftBank Ventures Asia Corp.

Iyuno-SDI Group provides localisation services to the media and entertainment industry in different parts of the world. It uses AI and neural machine translation technologies to help global content producers and distributors localise their services.

The company was formed in March as Iyuno Media acquired rival SDI Media, thereby nearly doubling its global footprint with 67 offices across 34 countries. SDI Media was a unit under Imagica Group, a listed company on the Tokyo Stock Exchange.

Iyuno generated revenues of $185 million in 2019, while SDI Media posted $215 million in sales the same year, according to media reports.

“We believe the media and entertainment sector is undergoing massive disruption, as content distribution and consumption patterns are dramatically changing,” said Chris Lee, director at SoftBank Investment Advisers.

SoftBank Group has made its own capital contributions to SoftBank Vision Fund 2, which has yet to have an external close, according to the statement on Friday.

The second Vision Fund has so far this year backed Asian startups such as Singapore-based Trax, which offers image recognition solutions for the retail industry, and innovation intelligence company PatSnap; EDDA Technology, a Chinese developer of intelligent robotic solutions for precision surgery; and Indian social commerce platform Meesho.

Prior to that, the fund had approved 19 investments worth $3.5 billion as on November 2020, Nikkei Asia reported.

In July 2019, SoftBank had announced a plan for Vision Fund 2, targeting to raise at least $108 billion, compared to the $100 billion first fund.