General Atlantic Invests $870 Million in Reliance Jio

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General Atlantic Invests $870 Million in Reliance Jio
Private fairness agency, General Atlantic has as we speak invested $870 million in Reliance Jio Platforms, persevering with a collection of investments within the Mukesh Ambani owned firm. With this funding, General Atlantic has purchased a 1.34% stake in Jio Platforms.

General Atlantic’s funding values Jio Platforms at $65 billion, which is similar valuation as that of the Silver Lake funding in Jio, and Vista Equity Partners funding within the firm.

In simply the final month, Jio has raised $8.85 billion by promoting round 14.7% stake of the corporate to international buyers. This consists of investments by Facebook, Vista, Silver Lake, and General Atlantic. The firm has been a horny funding choice for international corporations seeking to get into India’s quick rising web market. Jio is a serious participant there, and it’s the most important telecom operator in Delhi as nicely.

General Atlantic isn’t new to investing in India. The firm has invested in Indian startups prior to now, together with Byju’s and Unacademy. It has additionally invested in main client tech giants together with Snapchat, Alibaba, Airbnb, Facebook, and Slack amongst different large tech names.

Speaking in regards to the funding from General Atlantic, Mukesh Ambani was quoted as saying that “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.”

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