Silicon Valley private equity investor Silver Lake Partners has taken a $750M stake in Indian telco Reliance Jio Investment.
The investment values Reliance Jio at $65BN and comes two weeks after Facebook snagged a $5.7BN share – good for 10 percent – of Mukesh Ambani’s digital services company.
Ambani, India’s richest man, set up the Reliance Industries-backed broadband and streaming venture in 2016 since when it has attracted 388M subscribers.
Tech-focused Silver Lake, which has $40BN of assets under management, has made major investments this year in Twitter, Expedia and Airbnb. In 2017, it gave a $1.1BN cash injection to WME-IMG (now Endeavor).
Silver Lake’s investment in Jio is further evidence of India’s growing attraction for Silicon Valley and global media and tech firms.
Subscribe to Deadline Breaking News Alerts and keep your inbox happy.