After Facebook, Silver Lake invests in Mukesh Ambani’s Reliance Jio, read details

Less than two weeks after global tech giant Facebook made a whopping investment of $5.7 billion to buy a minority stake in Mukesh Ambani’s Reliance Jio, American private equity firm Silver Lake has invested a mind-boggling Rs 5,655.75 crore in Mukesh Ambani-owned Reliance Industries’ Jio Platforms.

It should be noted that the investment by Silver Lake values Mukesh Ambani’s Jio Platforms at an equity value of Rs 4.9 trillion and an enterprise value of Rs 5.15 trillion which represents a 12.5% premium on the equity valuation of the Facebook investment announced on April 22, 2020, Reliance Industries added in a statement

Credits: Financial Express

“I am delighted to welcome Silver Lake as a valued partner in continuing to grow and transform the Indian digital ecosystem for the benefit of all Indians. Silver Lake has an outstanding record of being a valuable partner for leading technology companies globally.

Silver Lake is one of the most respected voices in technology and finance. We are excited to leverage insights from their global technology relationships for the Indian Digital Society’s transformation,” said Mukesh Ambani, Chairman and Managing Director, Reliance Industries.

For the unversed, Silver Lake is a renowned investor in technology space. The company has over $40 billion in combined assets under management and committed capital. Its investments include the likes of Airbnb, Alibaba, Ant Financial, Alphabet’s Verily and Waymo units, Dell Technologies, Twitter and many other global technology leaders.

“Jio Platforms is one of the world’s most remarkable companies, led by an incredibly strong and entrepreneurial management team who are driving and actualizing a courageous vision. They have brought extraordinary engineering capabilities to bear on bringing the power of low-cost digital services to a mass consumer and small businesses population.

The market potential they are addressing is enormous, and we are honoured and pleased to have been invited to partner with Mukesh Ambani and the team at Reliance and Jio to help further the Jio mission,” said Egon Durban, Silver Lake Co-CEO and Managing Partner.