Reliance Industries Ltd and Jio Platforms have announced a Rs 11,367 crore investment by Vista Equity Partners Ltd into Jio Platforms. This is the third big investment into Jio Platforms in a matter of days and follows investment firm Silver Lake’s Rs 5,655.75 crore investment into Jio Platforms and social media giant Facebook, which invested $5.7 billion, or a Rs 43,574 crore deal, which gave Facebook as much as 9.99% stake in Reliance Jio. So, who are Vista Equity Partners?
“I am delighted to welcome Vista, one of the world’s marquee tech investors globally as a valued partner. Like our other partners, Vista also shares with us the same vision of continuing to grow and transform the Indian digital ecosystem for the benefit of all Indians. They believe in the transformative power of technology to be the key to an even better future for everyone,” says Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd. This third big investment into Jio Platforms, this time by Vista, firmly cements Reliance Jio’s and indeed its subsidiary Jio Platforms credentials as a tech and platform company.
Reliance Jio says this investment by Vista further reinforces the recognition of the world-class digital platform that Jio has built, powered by leading technologies, such as Broadband connectivity, Smart Devices, Cloud and Edge Computing, Big Data Analytics, Artificial Intelligence, Internet of Things, Augmented and Mixed Reality and Blockchain. This investment in Jio Platforms follows Vista Equity Partners’ investments in other companies, including financial services firms Advicent and Finastra, agriculture industry with AGData, construction company Eagle View, healthcare companies Advanced, Alegus and MindBody, insurance company Plansource, media and entertainment firms such as FWI and Naviga, the retail space with Kibo and in the global communication space with Tomia.
“We believe in the potential of the Digital Society that Jio is building for India. Mukesh’s vision as a global pioneer, alongside Jio’s world-class leadership team, have built a platform to scale and advance the data revolution it started. We are thrilled to join Jio Platforms to deliver exponential growth in connectivity across India, providing modern consumer, small business and enterprise software to fuel the future of one of the world’s fastest growing digital economies,” says Robert F. Smith, Founder, Chairman and CEO of Vista.
Vista Equity Partners have more than $57 billion in capital commitments across sectors and have been investing for around 20 years now—it was founded in the year 2000 by American businessman and investor Mr. Robert F. Smith and Mr. Brian Sheth.
This investment will give Jio Platforms a solid foundation to build on, towards what Reliance Jio says is a Digital India vision for 1.3 billion people and businesses across the country, including small businesses, micro-businesses and farmers.
Vista’s investment reaffirms Jio as the next-generation software and platform company, much beyond a telecom enterprise. With the third successive investment deal in a matter of days, Jio is continuing to attract global investors, one of the reasons being the company’s deep understanding of the Indian markets, the rapid digitisation opportunity post-COVID-19 and its capabilities to bring cutting-edge technologies and tools such as AI, Blockchain, AR/VR and Big data into play for all Indians.
Diverse marquee investors are becoming long-term shareholders of Jio Platforms because of a unique set of technologies and platforms under one entity. There are no similar opportunities available anywhere else globally.