In a huge credit and boost to Reliance Jio, US investment group Silver Lake invests $750 million in a phased manner . This is next in line of investor next to Facebook last week paid $5.7 billion to buy a 9.9% stake in Jio.
Silver Lake is the global leader in technology investing, with approximately $40 billion in combined assets under management and committed capital and a team of approximately 100 investment and operating professionals located around the world.
Reliance issued in a statement “In the wake of the severe economic disruptions caused by the COVID-19 pandemic, globally and especially within India, this partnership with one of the most renowned tech-investors globally, Silver Lake, has special significance. Comprehensive digitisation will be a vital component of the revitalisation of the Indian economy. It is our strong conviction that no one should be deprived of the tremendous new opportunities, including those for new employment and new businesses, embedded in India’s 360- degree digital transformation,”.
Currently Silver lake has invested in Airbnb, Alibaba, Ant Financial, Alphabet’s Verily and Waymo units, Dell Technologies, and Twitter.