Endeavor Investor Silver Lake Takes $750M Stake In Indian Telco Reliance Jio

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.