38.6c New Delhi, India, Friday, March 29, 2024
Business

10th Investment Within Seven Weeks: L Catterton Confirms To Investing Rs 1895 Crores In Jio Platform, Two Hours After TPG Finalizes Deal With The Company

By Saumya Srivastava      15 June, 2020 06:02 PM      0 Comments
10th Investment Within Seven Weeks: L Catterton Confirms To Investing Rs 1895 Crores In Jio Platform, Two Hours After TPG Finalizes Deal With The Company

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. 



Share this article:



Leave a feedback about this
TRENDING NEWS

arvind-kejriwals-plea-for-interim-release-rejected-by-delhi-high-court
Trending Judiciary
Arvind Kejriwal's plea for interim release rejected by Delhi High Court [Read Order]

Delhi High Court rejects Arvind Kejriwal's plea for interim release in money laundering case related to liquor policy scam, pending ED's response.

28 March, 2024 10:50 AM
youtuber-strings-plea-against-youtube-accounts-suspension-andhra-pradesh-hc-issues-notice-to-centre-google
Trending Top Stories
BREAKING: Youtuber String’s plea against Youtube accounts suspension: Andhra Pradesh HC issues notice to Centre, Google

Andhra Pradesh High Court issues notice to the Centre and Google LLC on Youtube journalist String’s plea against suspension of its accounts by Google (which owns Youtube).

28 March, 2024 11:26 AM

TOP STORIES

delhi-liquor-scam-court-remands-arvind-kejriwal-to-ed-custody-till-march-28-read-remand-application
Trending Judiciary
Delhi liquor scam: Court remands Arvind Kejriwal to ED custody till March 28 [Read Order]

Delhi liquor scam: Arvind Kejriwal remanded to ED custody till March 28. Court grants agency permission for interrogation in liquor policy case.

23 March, 2024 11:53 AM
sc-dismisses-centres-plea-for-review-of-judgment-directing-ed-to-furnish-written-grounds-of-arrest-to-pmla-accused
Trending Judiciary
SC dismisses Centre’s plea for review of judgment directing ED to furnish written grounds of arrest to PMLA accused [Read Order]

Supreme Court dismisses Centre's plea, upholds judgment mandating Enforcement Directorate to provide written grounds of arrest in PMLA cases.

23 March, 2024 03:14 PM
kerala-hc-to-hear-lesbian-couples-plea-against-forced-conversion-therapy-on-april-9
Trending Judiciary
Kerala HC to hear lesbian couple’s plea against forced conversion therapy on April 9

Kerala HC will hear a lesbian couple’s plea highlighting that one of them was subjected to forced conversion therapy.

23 March, 2024 03:30 PM
how-can-people-be-compelled-to-vote-madras-hc-asks
Trending Judiciary
“How can people be compelled to vote? Madras HC asks

“How can people be compelled to vote?”, the Madras HC queried in a plea asking employers in Tamil Nadu to demand proof from employees of having voted on polling day.

23 March, 2024 05:04 PM

ADVERTISEMENT


Join Group

Signup for Our Newsletter

Get Exclusive access to members only content by email