General Atlantic Invests $870 Million in Reliance Jio
Private equity firm, General Atlantic has today invested $870 million in Reliance Jio Platforms, continuing a series of investments in the Mukesh Ambani owned company. With this investment, General Atlantic hasbought a 1.34% stake in Jio Platforms.
General Atlantic’s investmentvalues Jio Platforms at $65 billion, which is the same valuation as that of theSilver Lake investmentin Jio, andVista Equity Partners investmentin the company.
In just the last month, Jio has raised$8.85 billion by selling around 14.7% stake of the companyto foreign investors. This includes investments by Facebook, Vista, Silver Lake, and General Atlantic. The company has been an attractive investment option for foreign companies looking to get into India’s fast growing internet market. Jio is a major player there, and it’s thebiggest telecom operator in Delhias well.
General Atlantic isn’t new to investing in India. The company has invested in Indian startups in the past, including Byju’s and Unacademy. It has also invested in major consumer tech giants including Snapchat, Alibaba, Airbnb, Facebook, and Slack among other big tech names.
Speaking about the investment 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.”
Akshay Gangwar
Greetings, tech titans and fellow literary time-travelers! I’m Akshay, your tech-whisperer and Harry Potter’s number one stalker – seriously, don’t ask me how many times I’ve read those books; it’s borderline unhealthy.
Working in the tech journalism industry since 2016, I have 7 years of experience covering everything from technology news, to well-researched resource articles. Now the Content Strategist at Beebom, I often pen down op-eds for our website, sharing expert commentary on the latest in technology, AI, and electric cars.
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