L Catterton, the world’s largest consumer-focused private equity firm, will invest Rs 1,894.50 crore in Jio Platforms, in exchange for a 0.39 percent stake. This a record tenth investment in the Reliance Industries (RIL) digital unit in seven weeks.
Another US-based PE firm TPG is set to invest Rs 4,546.80 crore for a 0.93 percent stake in RIL's Jio Platforms, the company said in a statement. The Mukesh Ambani-owned venture has raised over Rs 1 lakh crore since late April from a host of leading technology investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA and TPG.
Here's all you need to know about Jio Platforms' latest investor L Catterton:
>>Private equity (PE) firm L Catterton has made more than 200 investments in its 30 years of business, in leading consumer brands.
>>The consumer-focussed investment firm has a presence in growing middle-market companies and emerging high-growth enterprises.
>>With 17 offices globally, L Catterton has approximately $20 billion of equity capital across seven fund strategies.
>>L Catterton was formed through the partnership of Catterton, luxury goods firm LVMH, and Groupe Arnault.
>>It has invested in and helped build some of the most innovative brands at the forefront of the evolving consumer landscape, including Peloton, Vroom, ClassPass, Owndays, Fabindia among others.Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.