TPG will invest Rs 4,546.80 crore for a 0.93 percent stake in Jio Platforms.
Reliance Industries' digital arm Jio Platforms has another investor- TPG. The US-based global investment firm will invest Rs 4,546.80 crore for a 0.93 percent stake in Jio Platforms.
With this latest deal, RIL's digital unit has now raised a combined Rs 102,432.15 crore since late April from a host of leading technology investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala and ADIA.
Here's all you need to know about Jio Platforms' latest investor TPG:
>> TPG is a global alternative asset firm founded in 1992 with over $79 billion worth of assets under management across a wide range of asset classes-- private equity, growth equity, real estate and public equity.
>> Since the early 2000s, TPG has reportedly deployed over $2 billion in India to establish its presence across financial services, retail, healthcare and pharma among other sectors.
>> It has offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, and Singapore.
>> The US-based leading PE firm is an investor in several top global technology disruptors such as Uber, AirBnB and Spotify.
>> TPG is making the latest investment in Jio Platforms from its TPG Capital Asia, TPG Growth, and TPG Tech Adjacencies (TTAD) funds.Disclaimer: Reliance Industries (RIL) is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.