L Catterton, a private equity firm, is going to invest Rs 1895 crore in Jio Platforms for 0.39% stake. This is the tenth public investor in the Reliance Industries technology arm in the past seven weeks.

Jio Platforms, with this investment, has raised 104,326.95 crores from leading technology investors which includes Facebook, Silver Lake Partners (two branches), Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG. This is the largest continuous fundraising by a company, globally.

Catterton’s investment has given Jio Platforms an equity valuation of Rs 4.91 lakh crore and an enterprise valuation of Rs 5.16 lakh crore.

Chairman and Managing Director of Reliance Industries, Mukesh Ambani, said, “I am delighted to welcome L Catterton as a partner in our journey to unleash the power of digital for India while providing a consumer experience that is among the best in the world.”

He further said he looks forward to gaining from L Catterton’s experience in creating consumer-centric businesses.

Commenting on this, Global Co-CEO of L Catterton, Michael Catterton, added, “We look forward to partnering with Jio, which is uniquely positioned to execute on its vision and mission to transform the country and build a digital for the Indians through its unmatched digital and technological capabilities.”

Facebook was the first to make an investment of Rs 43,574 crore ($5.7 billion) for a 9.99% stake. This investment made Facebook the largest minority shareholder in Jio Platforms and valued RIL technology arm at Rs 4.62 lakh crore ($6.66 billion) pre-money enterprise value.

Many other companies followed the suit by investing in the venture.

L Catterton has previously invested in many brands including Peloton, Vroom, ClassPass, Owndays, FabIndia, and more.