Vista Equity Partners Invests $1.5 Billion In India’s Reliance Jio
Reliance Jio, India’s biggest telecoms operator is attracting more investment from around the world. Private equity firm, Vista Equity Partners is following in the footsteps of Facebook and Silver Lake by investing $1.5 billion in Reliance Jio platforms.
The purchase gives Vista Equity Partners a 2.32 percent stake in Reliance Jio which is valued at $65 billion. Jio has raised nearly $8 billion from equity sales to Facebook, Silver Lake, and now Vista Equity Partners.
Perhaps this is part of Mukesh Ambani’s strategy to reduce his company’s debt to zero in 2021. Reliance has a net debt of about $21 billion.
Ambani says both companies share a mutual vision of growth that can also transform India.
“We are excited to leverage the professional expertise and multi-level support that Vista has been offering to its investments globally for the benefit of Jio. Like our other partners, Vista also shares with us the same vision of continuing to grow and transform the Indian digital ecosystem for the benefit of all Indians. They believe in the transformative power of technology to be the key to an even better future for everyone,” Chairman Mukesh Ambani said in the statement.
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Vista will use the opportunity to expand the reach of its portfolio to the Indian ecosystem.
Founder, Chairman, and CEO of Vista, Robert F. Smith, in a statement, said; “We believe in the potential of the Digital Society that Jio is building for India. Mukesh’s vision as a global pioneer, alongside Jio’s world-class leadership team, have built a platform to scale and advance the data revolution it started.”
Vista is the largest exclusively tech-centric private equity fund in the world. It also has over $57 billion in investment and 20 years of investments exclusively in enterprise software and technology companies.
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