Reliance Industries Ltd and Jio Platforms have announced a Rs 11,367 crore investment by Vista Equity Partners Ltd into Jio Platforms. US-based private equity firm that runs the world’s largest exclusively tech-focused fund, will pick up a 2.3 percent stake in 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.
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.
“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. In Robert and Brian, whose family hails from Gujarat, I found two outstanding global technology leaders who believe in India and the transformative potential of a Digital Indian Society. We are excited to leverage the professional expertise and multi-level support that Vista has been offering to its investments globally for the benefit of Jio,” says Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd.
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.
“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.