Established in 1980, General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build exceptional businesses worldwide. It has created an eco-system comprising of network, devices, applications and content, platforms, service experience and affordable tariffs for everyone to live the Jio Digital Life. Since April 2020, Reliance Industries … General Atlantic will pick up a 1.34% stake in Jio Platforms which includes movie, music apps as wells telecoms venture Jio Infocomm. Mumbai: Private equity firm General Atlantic is set to invest ₹6,598.38 crore in Jio Platforms for a 1.34% stake.

Jio is committed to make a digitally inclusive India that will provide immense opportunities to every Indian citizen especially to our highly talented youth. U.S. investment group General Atlantic is to spend $870 million buying a stake in expanding Indian media powerhouse Jio Platforms. General Atlantic has a long track record working alongside founders to scale disruptive businesses, as Jio is doing at the forefront of the digital revolution in India.” Akash Ambani, Director of Reliance Jio, said “We are delighted that a renowned global investor like General Atlantic is partnering with us in our journey to digitally empower India and Indians. Reliance Industries Limited (RIL) and Jio Platforms Limited had announced on 4 May that Silver Lake will invest Rs 5,655.75 crore into Jio Platforms. In just three and a half years, Jio has had a transformational impact in democratizing data and digital services, propelling India to be positioned as a leading global digital economy.”Jio Platforms, a wholly-owned subsidiary of Reliance Industries, is a next-generation technology platform focused on providing high-quality and affordable digital services across India, with more than 388 million subscribers. See Days later it secured a $750 million investment from private equity firm Silver Lake.NEW DELHI (Reuters) - India's Reliance Industries The deals, along with Reliance’s plan to sell $7 billion in new shares, will help the Mumbai-based oil-to-telecoms giant meet its target of eliminating $21.4 billion in net debt this year.Reliance, controlled by billionaire Mukesh Ambani, last month forged a $5.7 billion deal with Facebook for a 9.99% stake in Jio Platforms.The deal puts Jio Platform’s equity value at 4.91 trillion rupees and gives it an enterprise value of 5.16 trillion, Reliance said in a statement.General Atlantic will pick up a 1.34% stake in Jio Platforms which includes movie, music apps as wells telecoms venture Jio Infocomm.Ambani, Asia’s richest man, launched the Jio telecoms venture in late 2016, driving several rivals out of the market and pushing others to consolidate.He has pitched Jio as a tech company with capabilities to build smart homes, making it a possible rival to Amazon’s Alexa-based solutions, connected cars and security systems.Reporting by Sankalp Phartiyal; additional reporting by Abhirup Roy; editing by Emelia Sithole-Matarise and Jason Neely on Sunday announced U.S. fund General Atlantic will invest 65.98 billion rupees ($870 million) in Jio Platforms, a fourth deal that takes investment in its digital unit to over $8 billion in less than a month.General Atlantic invests in sectors such as technology, financial services and healthcare, including stakes in Airbnb, Alibaba They also underscore the strength of a digital business which Ambani has built over the past four years in an effort to diversify Reliance way from petrochemicals and refining.

RIL is the top-most ranked company from India to feature in Fortune’s Global 500 list of ‘World’s Largest Corporations’ – currently ranking 106th in terms of both revenues and profits. General Atlantic’s endorsement and partnership energises Jio’s young team to set, and achieve, even more ambitious goals in our onward march.”Sandeep Naik, Managing Director and Head of India & Southeast Asia at General Atlantic, added, “General Atlantic has nearly two decades of experience of investing in India, and specifically in founder-led businesses that are based upon principles of enablement, inclusion and progress.

General Atlantic has a long track record working alongside founders to scale disruptive businesses, as Jio is doing at the forefront of the digital revolution in India.”General Atlantic's website uses cookies to improve and personalize your experience. General Atlantic’s investment will translate into a 1.34% equity stake in Jio Platforms on a fully diluted basis.

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.”Jio Platforms Limited (“Jio”), a wholly-owned subsidiary of Reliance Industries Limited, has built an all-IP data strong future proof network with latest 4G LTE technology (through its wholly owned subsidiary, Reliance Jio Infocomm Limited).Bill Ford, Chief Executive Officer of General Atlantic, said, “As long-term backers of global technology leaders and visionary entrepreneurs, we could not be more excited about investing in Jio. Since 1980, we have identified disruptive businesses with transformative potential and helped them scale globally. The company stands 71st in the ‘Forbes Global 2000’ rankings for 2019 – top-most among Indian companies. General Atlantic is a global growth equity investor. The two companies announced their deal within a … We share Mukesh’s conviction that digital connectivity has the potential to significantly accelerate the Indian economy and drive growth across the country. The transaction takes investment raised by Jio in recent weeks to almost $9 billion. By using this site, you consent to the use of cookies.

Copyright © 2020 General Atlantic Service Company, L.P. All Rights Reserved. I have known General Atlantic for several decades and greatly admired it for its belief in India’s growth potential. This will be the fourth investment in the Reliance Industries NSE 0.26 % Ltd (RIL) business in rapid succession, following those by social media major Facebook and private equity funds Silver Lake and Vista Equity Partners.

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