Amid lockdown, Reliance Jio has found a third partner — the Vista Equity Partners.
Reliance Industries Limited on Friday announced that Vista Equity Partners will invest ? 11,367 crore into Jio Platforms.
Facebook on April 22 had signed an agreement with Reliance Jio to launch JioMart on WhatsApp platform.
After that, Silver Lake, a global leader in technology invested Rs 5,655.75 crore in the company.
Vista’s investment will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis, making Vista the largest investor in Jio Platforms behind Reliance Industries and Facebook.
Jio Platforms has now raised ? 60,596.37 crore from leading technology investors in less than three weeks.
Jio Platforms, a wholly-owned subsidiary of Reliance Industries Limited, with over 388 million subscribers.
Vista is a leading global investment firm focused on empowering and growing enterprise software, data and technology enabled companies that are reinventing industries and catalyzing change.
Vista has more than $57 billion in cumulative capital commitments and its global network of companies collectively represent the 5th largest enterprise software company in the world.
The investment by Vista is exclusively focuses on enterprise software, data and technology enabled companies.
Commenting on the transaction with Vista, Mukesh Ambani, chairman and managing director of Reliance Industries Ltd, 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,” Ambani said.
The RIL chief said the company is 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.”
Smith said Ambani’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,” Smith said.