SoftBank Corp. (TSE:9434) is looking to return to the deal counter in India after largely focusing on exits from listed bets last year. The Tokyo-based investment firm has begun early-stage talks to double down on existing software portfolio firm Icertis Solutions Private Limited, which is stitching up a new funding round of about $150 million (about INR 12,520 million), in a secondary share sale, said people familiar with the development.

The talks would progress depending on valuation to a large extent, they said. The new funding round may see other existing backers also invest more in Icertis, they said, as some early shareholders are looking to make an exit from the 15-year-old firm. Icertis was last valued at $5 billion.

SoftBank?s Vision Fund has also finalised plans for investing in ecommerce firm Meesho as part of a broader funding round. With several unicorns under its portfolio, the Japanese investor is actively reviewing potential new firms as well after a lull of more than a year ? when SoftBank and Tiger Global didn?t make any deals.

?The talks are in early stages and the key to the deal would be the valuation and the price discovery is yet to be finalised,? said one of the persons, who did not wish to be identified. A spokesperson for Icertis said it remains well capitalised and that it is common for new investors to seek shares in businesses like Icertis.

"Icertis is not directly involved in any such secondary transactions and remains focused on empowering our customers to realise the full potential of their business relationships through contract intelligence," the spokesperson added. A spokesperson for SoftBank India declined to comment on the matter.