Silver Lake Partners, a leader in technology investing, with over $43 billion in combined assets under management has upped its investment in Jio Platforms, the technology arm of Reliance Industries. The US-based private equity firm has announced an additional investment of Rs 4,546.80 crore, for a 0.93 percent stake in Jio Platforms.
In May, the company had announced a Rs 5,655.75 crore investment for a 1.15 percent stake in Jio Platforms. To date, Silver Lake has now invested Rs 10,202.55 crore for a 2.08 percent stake.
Overall, Jio Platforms has raised Rs 92,202.15 crore from top companies like Facebook, Vista Equity Partners, General Atlantic, KKR, Mubadala and Silver Lake Partners.
Here are some key highlights:
1. This is the seventh investment in Jio Platforms in just six weeks.
2. Silver Lake and co-investors to invest additional Rs 4,546.80 crore in Jio Platforms.
3. Aggregate investment by Silver Lake is Rs 10,202.55 crore for 2.08% equity.
4. With this investment, Jio Platforms has raised Rs 92,202.15 crore from leading technology investors including Facebook, Silver Lake Partners, Vista Equity Partners, General Atlantic, KKR and Mubadala.
5. Silver Lake is world’s largest tech investor is investing in Jio and has a terrific track record of investing in some of the largest and successful tech companies globally such as Twitter, Airbnb, Alibaba, Dell Technologies, ANT Financials, Twitter, Alphabet’s Waymo and Verily amongst others.
6. This investment is another strong endorsement of Jio's tech capabilities, disruptive business model and secular long-term growth potential
7. This reaffirms Jio’s continuing attraction among global investors for:
a. Being the best representative of India’s digital potential
b. Deep understanding of the Indian markets,
c. The rapid digitisation opportunity post-covid and
d. Capabilities to bring cutting-edge technologies and tools such as AI, Blockchain, AR/VR, Big data into play for all Indians
First Published: Jun 5, 2020 11:05 PM IST
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