Abu Dhabi state fund in talks to invest $1 billion in Jio Platforms

Abu Dhabi state fund Mubadala Investment Company is in talks to invest about $1 billion in Reliance Industries’ digital unit Jio platforms, three sources said on Thursday.

Jio Platforms, which houses music and movie apps as well a Reliance’s telecoms venture Jio Infocomm, has secured a massive $10 billion from investors including Facebook Inc within a month.

Reliance did not immediately respond to a request for comment.

“Clearly Jio’s platform is attracting a wide range of world-class investors, given its enormous potential to serve one of the world’s largest marketplaces,” Mubadala said in an email to Reuters.