comscore Jio platforms now gets Rs 6,598 crore investment from General Atlantic
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Jio platforms now gets Rs 6,598 crore investment from General Atlantic

General Atlantic, a leading global growth equity firm, is the latest company to invest Rs 6,598.38 crore in Reliance Jio platforms. 

  • Published: May 17, 2020 6:06 PM IST
Jio Rs 11 Plan, Reliance Jio

A total of three companies have recently invested a big amount in Jio Platforms. Now, General Atlantic, a leading global growth equity firm, is the latest company to invest Rs 6,598.38 crore in Reliance Jio platforms. This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. So, the firm has bought a 1.34 percent equity stake in Jio Platforms on a fully diluted basis.

In less than four weeks, Jio Platforms has raised Rs 67,194.75 crore from leading tech investors. These include Facebook, Silver Lake, Vista Equity Partners, and General Atlantic. The latest company is a high profile investor in consumer tech space and has invested in firms like Alibaba, Box, ByteDance, Facebook, Slack, Snapchat, and Uber.

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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 huge 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.”

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  • Published Date: May 17, 2020 6:06 PM IST