After Facebook, US-based Vista Equity Partners will invest Rs 11,367 crore in Reliance Jio Platforms

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Reliance Jio is gaining a lot of investments in recent days. On April 22, Facebook said that it would invest USD 5.7 billion in Jio Platforms for a 9.99 per cent stake. Later on May 4, US private equity firm Silver Lake said it will invest Rs 5,655.75 crore in Jio Platforms for a 1.15 per cent stake. Now, US Based, Vista’s investment will translate into a 2.32% equity stake on a fully diluted basis, making Vista the largest investor in Jio Platforms behind Reliance Industries and Facebook.

“Jio Platforms, a wholly-owned subsidiary of Reliance Industries Limited, is a next-generation technology company building a Digital Society for India by bringing together Jio’s leading digital apps, digital ecosystems and India’s high-speed connectivity platform under one umbrella has now raised ₹60,596.37 crores from leading technology investors in less than three weeks,” said a RIL statement.

Vista is a leading global investment firm focussed on empowering and growing enterprise software, data, and technology-enabled companies that are reinventing industries and catalyzing change.

Commenting on the transaction with Vista, Mukesh Ambani, Chairman, and Managing Director, RIL, said, “I am delighted to welcome Vista, one of the world’s marquee tech investors globally as a valued partner. Like our other partners, Vista also shares with us the same vision of continuing to grow and transform the Indian digital ecosystem for the benefit of all Indians.

They believe in the transformative power of technology to be the key to an even better future for everyone. In Robert and Brian, whose family hails from Gujarat, I found two outstanding global technology leaders who believe in India and the transformative potential of a Digital Indian Society. We are excited to leverage the professional expertise and multi-level support that Vista has been offering to its investments globally for the benefit of Jio.”

Commenting on the investment, Robert F. Smith, Founder, Chairman, and CEO of Vista, said, “We believe in the potential of the Digital Society that Jio is building for India. Mukesh’s vision as a global pioneer, alongside Jio’s world-class leadership team, have built a platform to scale and advance the data revolution it started.

We are thrilled to join Jio Platforms to deliver exponential growth in connectivity across India, providing modern consumer, small business and enterprise software to fuel the future of one of the world’s fastest-growing digital economies.”