America’s leading investor General Atlantic invested around 6600 crore in Reliance Jio. Reliance Jio is a leading telecom company in India owned by Mukesh Ambani. Reliance Industries said on Sunday that General Atlantic has invested Rs 6,598.38 crore. This will be in exchange for a 1.34 per cent stake in its digital entity Jio Platforms.
This will be General Atlantic’s largest investment of any company in Asia so far. Jio Platforms has so far raised Rs 67,194.75 crore from major technology investors. This includes Facebook, Silver Lake Partners, Vista Equity Partners, and General Atlantic. General Atlantic has valued the Jio platforms at Rs 4.91 lakh crore.
Reliance Jio is the largest telecom service provider in India with 388 million subscribers
Jio Platforms is a fully owned subsidiary of Reliance Industries Limited. This is as per a statement issued by Reliance Jio. Reliance Jio Infocomm Limited has 388 million subscribers. Reliance Jio will continue to be the “Holly Owned Subsidiary” of Jio Platforms Limited.
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Chairman and Managing Director of Reliance Industries Limited said on the investment. “I am thrilled to welcome Global Investor General Atlantic as an important partner. I am familiar with General Atlantic for many decades. And I admire them for their belief in India’s growth potential.”
General Atlantic has 40 years of investment experience in many sectors
He further said that “Our and General Atlantic’s vision for making India a digital society is the same. They strongly believe in the transformative powers of digitization. This will enrich the lives of 130 crore Indians. We are excited to leverage General Atlantic’s proven global expertise. They have 40 years of technology investment experience.”
General Atlantic has 40 years of investment experience. This is in the technology, consumer, financial services, and healthcare sectors. General Atlantic has been supporting specific entrepreneurs and companies worldwide. This is including Airbnb, Alibaba, Ant Financial, Box, ByteDance, Facebook, Snapchat, Uber etc,. They also invested in many other global technology leader companies.
General Atlantic CEO Bill Ford praised Mukesh Ambani and said he is a visionary
General Atlantic CEO Bill Ford praised Mukesh Ambani. He said, “As a global technology leader and long-term supporter of visionary entrepreneurs. We are excited to invest in Jio.”
We understand Mukesh’s belief that digital connectivity can boost the Indian economy. It can speed up the development of the country. General Atlantic has a long track record of establishing niche businesses. We work with their founders. This is what Jio is doing in the field of a digital revolution in India.
