After Facebook deal, Mukesh Ambani’s Jio Platforms baggage Rs 5,656 cr funding from Silver Lake – Times of India
Facebook had invested Rs 43,574 crore in Jio Platforms on April 22, and the fresh deal displays the growing interest of global investors into Jio Platforms’ business, that is also the holding company for Reliance Jio, the country’s biggest telecom company.
Commenting on the transaction, Mukesh Ambani, chairman and managing director of Reliance Industries, said, “Silver Lake has an outstanding record of being a valuable partner for leading technology companies globally. Silver Lake is one of the most-respected voices in technology and finance. We are excited to leverage insights from their global technology relationships for the Indian digital society’s transformation.”
Silver Lake is a global leader in technology investing, with over $43 billion in combined assets under management and committed capital and a team of approximately 100 investment and operating professionals located around the world. Companies where it has invested previously include Alibaba group, Airbnb, Dell, Didi Chuxing, Hyla Mobile, Ant Financial, Alphabet’s Verily and Twitter.
Egon Durban, Silver Lake Co-CEO and Managing Partner, said that Jio Platforms is one of the world’s “most remarkable” companies. “They have brought extraordinary engineering capabilities to bear on bringing the power of low-cost digital services to a mass consumer and small businesses population.”