This will be the fourth big investment in Jio following FB, Silver Lake, and Vista Equity Partners. In a joint statement from Reliance Industries and Reliance Jio on Sunday, the company said Atlantic’s investment will translate into 1.34 % equity stake on a fully diluted basis in the Jio platform.
Jio platforms has been able to collect Rs 67,194.75 crores in just less than four weeks from major leading technology companies such as Facebook, Silver Lake, Vista Equity, and General Atlantic.
Mukesh Ambani, Chairman & Managing Director of Reliance Industries said, ” He is excited to welcome General Atlantic in India. He has known General Atlantic for several decades and admires the belief of General Atlantic in India’s huge growth potential. They are excited to witness Atlantic’s proven global expertise and insight across years of technology investing in Jio.
General Atlantic has a history of investing in Technology, Consumer, Financial and healthcare sectors.
Morgan Stanley who acted as a financial advisor to Reliance Industies and AZB & Partners and Davis Polk and Warwell Acted as Legal Counsel. Paul, Weiss, Wharton & Garrison acted as Legal counsel to General Atlantic.