According to Chief Executive officer of SoftBank Investment Advisers, the company can invest $5 billion to $10 billion in India from 2022 if it finds valuations attractive.

“If we find the right companies, we could invest $5 billion to $10 billion in 2022,” said Rajeev Misra at the Bloomberg India Economic Forum on Thursday.

He added, “If we find the right opportunities at the right valuation.”

India’s tech ecosystem is taking off and SoftBank’s patience will be “rewarded,” Misra said. “It is India’s time.”

SoftBank has invested $3 billion in 2021 and now they are planning to raise the stakes in India as global firms are opting out to invest in China with tighter regulations.

SoftBank has also invested in digital payments company Paytm, which seems to raise $2.5 billion in its initial public offering. Oyo Hotels & Homes, also backed by SoftBank, filed preliminary documents for $1.1 billion in its initial public offering in October.

Meanwhile, the Japanese company is nearing a deal to buy a stake in Washington-based technology unicorn Icertis, valuing the enterprise software maker at about $5 billion, Bloomberg reported citing people familiar with the matter.

The Japanese investor will pay about $80 million for the stake owned by Fidelity-backed Eight Roads Ventures, and is also looking to further raise its holdings in Icertis, which has operations in India.

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