PE/VC investments nearly doubled to USD 5.4 billion in May led by Jio Platforms deals

MUMBAI: Billionaire Mukesh Ambani’s stake sales in Jio Platforms helped lift an otherwise tepid venture investments activity in May, taking the overall inflows to USD 5.4 billion as against USD 935 million in April.

The investments have nearly doubled as compared to the year-ago period’s USD 2.8 billion, and the biggest deal recorded during the month was buyout major KKR’s USD 1.5 billion investment in Jio, consultancy firm EY said in a report. At USD 4.6 billion, the investments in Jio Platforms accounted for 85 per cent of the overall investments by private equity (PE) and venture capital (VC)funds, EY added.