Two US-based private equity firms invested $800 million in Jio Platforms. This brings the funds raised by the Reliance Industries (RIL) subsidiary to over $13 billion. TPG invested $598.36 million for a 0.93% stake. Meanwhile, L Catterton invested $249.32 million for a stake of 0.39%. The two firms are the latest to invest in Jio, joining Facebook, Silver Lake, General Atlantic, Vista Equity Partners, KKR, and the Abu Dhabi Investment Authority.
Jio Platforms is an innovative technology platform that provides quality digital services across India. The platform has 388 million subscribers. The investments value Jio at $67.9 billion. This makes way for the platform to emerge as a solid force in the industry.
“Jio is a disruptive industry leader that is empowering smal…