Jio Platforms Strengthens its Role For India's Digital Transformation With Latest TPG Investment Deal
Reliance Industries today announced that Jio Platforms is getting its ninth major investment in the company. The latest investment has come from global alternative asset firm TPG that has invested Rs 4,546.80 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. Reliance Jio has previously announced investments from Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala Investment Company and Abu Dhabi Investment Authority (ADIA), over the past few weeks. With a total investment of Rs 102,432.45 crore, Reliance Jio Platforms has proven to be one of the most lucrative companies for foreign investors.
Reliance Jio and its investments in India's telecom space have changed the face of the industry. Jio Platforms could definitely evolve as a technology company that has expertise in multiple domains. Jio's technology umbrella already includes broadband services, smart devices, cloud and edge computing, Big Data analytics, artificial intelligence, Internet of Things (IoT), Augmented and Mixed Reality and blockchain. The money invested by Mubadala, as well as the likes of KKR, General Atlantic, Facebook, Silver Lake Partners and Vista Equity Partners will help the company achieve the Digital India vision for 1.3 billion people and businesses across the country, including small businesses, micro-businesses and farmers.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “Today, I am happy to welcome TPG as valued investors in our continued efforts towards digitally empowering the lives of Indians through the creation of a digital ecosystem. We have been impressed by TPG’s track record of investing in global technology businesses that serve hundreds of millions of consumers and small businesses, making the societies we live in better.”
TPG is a leading global alternative asset firm founded in 1992 with more than $79 billion of assets under management across a wide range of asset classes, including private equity, growth equity, real estate and public equity. Over TPG’s more than 25-year history, the firm has built an ecosystem made up of hundreds of portfolio companies and a value-added network of professionals, executives, and advisors around the world. Its investments in global technology companies include Airbnb, Uber, and Spotify, among others.
Jim Coulter, Co-CEO TPG, said, “We are excited to partner Reliance to invest in Jio. As an investor in growth, change, and innovation for over 25 years – and with a longstanding presence in India -- we are excited to play an early role in Jio's journey as they continue to transform and advance India's digital economy. Jio is a disruptive industry leader that is empowering small businesses and consumers across India by providing them with critical, high-quality digital services. The company is bringing unmatched potential and execution capabilities to the market, setting the tone for all technology companies to come.
With Jio Platforms poised as a transformative player in India’s technology industry that has drastically transformed the telecom industry of India, TPG's investment in Jio Platforms has further cemented the company’s position as a market leader. With investments from abroad going over Rs 1 lakh crore, Jio Platform is set to revolutionise India’s digital endeavours by leading on all grounds – from enterprise to consumer technologies alike.