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General Atlantic infused INR 6,598.38 crore in Jio Platforms

General Atlantic infused INR 6,598.38 crore in Jio Platforms


Jio

Reliance Jio has recently revealed an investment of INR 6598.38 crore by the General Atlantic, a global leader in growth equity firm.

Jio Platforms is a wholly-owned subsidiary of the Reliance Industries. It is a next-gen technology platform focused on offering high quality and affordable digital services across India, having 400 million subscribers.

Jio Platforms has made significant investments across its digital ecosystem, supported by leading technologies, which include smart devices, broadband connectivity, big data analytics, cloud & edge computing, Internet of Things, AI, Blockchain, and Augmented Reality.

Executive Opinion

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “I am thrilled to welcome General Atlantic, a marquee global investor, as a valued partner. I have known General Atlantic for several decades and greatly admired it for its belief in India’s growth potential. General Atlantic shares our vision of a Digital Society for India and strongly believes in the transformative power of digitization in enriching the lives of 1.3 billion Indians. We are excited to leverage General Atlantic’s proven global expertise and strategic insights across 40 years of technology investing for the benefit of Jio.”

Bill Ford, Chief Executive Officer of General Atlantic, said, “As long-term backers of global technology leaders and visionary entrepreneurs, we could not be more excited about investing in Jio. We share Mukesh’s conviction that digital connectivity has the potential to significantly accelerate the Indian economy and drive growth across the country. General Atlantic has a long track record working alongside founders to scale disruptive businesses, as Jio is doing at the forefront of the digital revolution in India.”

Jio's Latest Funding

The new investment round values the Jio Platforms at an equity value of INR 4.61 lakh crore and an enterprise value of INR 5.16 lakh crore.

General Atlantic Investment will translate 1.34% equity stake in the Jio Platforms on a diluted basis.

With this investment, Jio Platforms has secured INR 67194.75 crore from some of the leading technology investors, which includes Silver Lake, Facebook, General Atlantic, and Vista Equity Partners in less than a month.

PC: Pablo, Pixabay

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Udit Agarwal Opinions expressed by techsutram contributors are their own. More details

Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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