Abu Dhabi based sovereign investors Mubadala Investment Company (Mubadala) have invested Rs 9,093.60 Crore in Jio Platforms, for what is a 1.85% equity stake. This becomes the sixth big investment in Reliance Industries’ Jio Platforms in as many weeks, and follows investments from KKR, General Atlantic, Facebook, Silver Lake Partners and Vista Equity Partners over the past few weeks. The investment by Mubadala follows the Rs 11,367 crore invested by KKR, Rs 6,598.38 crore by General Atlantic, Rs 11,367 crore investment from Vista Equity Partners Ltd., investment firm Silver Lake’s Rs 5,655.75 crore investment and social media giant Facebook, which invested $5.7 billion, or a Rs 43,574 crore deal. This means Jio Platforms has now raised 87,655.35 crore in investments in the past few weeks.
“I am delighted that Mubadala, one of the most astute and transformational global growth investors has decided to partner us in our journey to propel India’s digital growth towards becoming a leading DIGITAL NATION in the world. Through my longstanding ties with Abu Dhabi, I have personally seen the impact of Mubadala’s work in diversifying and globally connecting the UAE’s knowledge-based economy. We look forward to benefitting from Mubadala’s experience and insights from supporting growth journeys across the world,” says Mukesh Ambani, Chairman and Managing Director of Reliance Industries.
It is interesting to note that this is the first investment in Jio Platforms by a Sovereign wealth fund. This is also the sixth big investment in Jio Platforms in as many weeks.
Reliance Jio says this investment by Mubadala Investment Company 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 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.
“We are committed to investing in, and actively working with, high growth companies which are pioneering technologies to address critical challenges and unlock new opportunities. We have seen how Jio has already transformed communications and connectivity in India, and as an investor and partner, we are committed to supporting India's digital growth journey. With Jio’s network of investors and partners, we believe that the platform company will further the development of the digital economy,” says Khaldoon Al Mubarak, Managing Director and Group CEO, Mubadala Investment Company.
Mubadala Investment Group currently has more than $229 billion worth of assets under management and have more than 50 businesses and investments in more than 50 countries. The Mubadala Investment Company was created in 2017. The late Sheikh Zayed bin Sultan Al Nahyan had a vision for progressive governmental structure and channeled the oil resources towards the creation of infrastructure, hospitals and universities. In its history, the investment group says, “Established in 1984, International Petroleum Investment Company (IPIC) was created to advance Abu Dhabi’s natural petroleum wealth for the development of the emirate. Mubadala Development Company followed in 2002 to further diversify the economy. Both swiftly flourished into active worldwide investors across multiple sectors.”
Mubadala Investment Company’s current partnerships include The Carlyle Group, Total, Imperial College London, Boeing, Airbus, Honeywell, Hughes, Rolls-Royce, Shell and Petronas.