Dealogic data, which includes investments by the Vision Fund, showed that between 2012 and August of this year SoftBank announced 383 deals worth approximately $125.76 billion.
All those deals fall into one of two categories: cutting-edge technologies or tech companies that are already number one or number two in their category.
"They know if they consistently invest in capital leaders in a disruptive category, the upside is humongous," Hans Tung, managing partner at GGV Capital, told CNBC. He explained, "They're good at investing in ideas that're proven in a developed market, but they want to invest in local competitors that are number one in emerging markets."
For example, in the ride-hailing market, SoftBank is already invested in southeast Asia's top player, Grab, and India's leading local player, Ola. Recently, SoftBank said it would be interested in putting money into either Uber or Lyft, the leading ride-hailing players in the U.S.
Occasionally SoftBank invests in the number two company in a specific industry and then aims for a merger with the top player, said Tung. That was the case in China's leading ride-hailing player Didi Chuxing. The company formed from a merger between Didi Dache and SoftBank-backed Kuaidi Dache.