SoftBank executive Ronald Fisher is stepping down as head of U.S. investment operations, per an internal memo sent Friday and obtained by Axios.

Why it matters: Fisher has been with SoftBank for a whopping 27 years, spanning through the dot-com boom, Great Recession and unicorns startup eras. During that time, SoftBank grew into the U.S. venture capital market's 800-pound gorilla, changing how the industry operated.

Details: Fisher will transition into a senior advisory role on April 15. He will be succeeded by Andrew Kofman, although SoftBank Vision Fund CEO Rajeev Misra will oversee U.S. investment decisions going forward.

• Misra, based in London, said in the memo that he plans to spend significantly more time in California.
• A SoftBank spokesperson confirmed Fisher's move.