- KKR & Co Inc (NYSE: KKR) announced it is going to invest $1.5 billion in Reliance Industries’ Jio Platforms, which is the investment management firm’s largest investment in Asia
KKR & Co Inc (NYSE: KKR) announced it is going to invest $1.5 billion in Reliance Industries’ Jio Platforms, which is the investment management firm’s largest investment in Asia. Through the investment, KKR will own a 2.32% stake in Jio Platforms on a fully diluted basis. And this deal values Jio Platforms at an enterprise value of around $68.3 billion
What is Jio Platforms? Jio Platforms is a telecommunications company that runs an LTE network and has 388 million subscribers.
“Few companies have the potential to transform a country’s digital ecosystem in the way that Jio Platforms is doing in India, and potentially worldwide,” said Henry Kravis, Co-Founder and Co-CEO of KKR. “Jio Platforms is a true homegrown next generation technology leader in India that is unmatched in its ability to deliver technology solutions and services to a country that is experiencing a digital revolution.”
This is the fifth investment for Jio Platforms from a number of other major companies. Here are some stories from Pulse 2.0 about the other investments in Jio Platforms:
General Atlantic – Jio Platforms Now Valued At About $68 Billion Following General Atlantic Investment
Vista Equity Partners – Vista Equity Partners Buying 2.3% Stake In Jio Platforms For About $1.5 Billion
Silver Lake – Silver Lake Investing $747 Million In Jio
Facebook – Facebook Is Investing $5.7 Billion In India-Based Jio
Jio Platforms will be partnering with Facebook subsidiary WhatsApp in e-commerce as part of a strategic deal.
KKR has invited over $30 billion of total enterprise value in tech companies. And now its portfolio has over 20 companies across tech, media, and telecommunications.
