TPG Becomes Ninth Investor In Jio Platforms

US-based global investment firm TPG joins the line of recent investors in Jio Platforms for a 0.93 percent stake in the digital arm of Reliance Industries Limited (RIL) for Rs 4,546.80 crore.

"With this investment, Jio Platforms has raised Rs 102,432.45 crore from leading global technology investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, and TPG since April 22, 2020," said RIL in a statement.

These nine deals have been announced in a span of eight weeks.

TPG is a leading global alternative asset firm that is known to have made investments in Airbnb, Uber, and Spotify, among others. It has made the investment from its TPG Capital Asia, TPG Growth, and TPG Tech Adjacencies (TTAD) funds.

"Today, I am happy to welcome TPG as valued investors in our continued efforts towards digitally empowering the lives of Indians through the creation of a digital ecosystem. We have been impressed by TPG's track record of investing in global technology businesses which serve hundreds of millions of consumers and small businesses, making the societies we live in better," said Mukesh Ambani, Chairman and Managing Director of Reliance Industries, in a statement.