Jio Platforms raises Rs 6,598.38 crore from General Atlantic

In its fourth fund raising in less than a month, Jio Platforms, a subsidiary of Asia’s richest man Mukesh Ambani-controlled Reliance Industries Ltd (RIL), has raised Rs 6,598.38 crore from US PE major General Atlantic (GA).

The investment, which is GA’s largest in Asia, is in lieu of a 1.34 per cent stake, RIL said in a regulatory filing.

With this, Jio Platforms had raised Rs 67,194.75 crore from leading technology investors including Facebook, Silver Lake Partners, Vista Equity Partners and General Atlantic in less than four weeks.

The investments by leading global growth investors to help enable Jio to scale its ecosystem towards building a digital society in India, it said in a regulatory filing.