Global investment firm KKR [] today announced that it will
invest US$1.5 billion inJio Platforms [], the digital
services arm of Indian conglomerate Reliance Industries for a 2.32% equity stake
on a fully diluted basis.

The new investment gives Jio an equity value of US$64.9 billion and an
enterprise value of US$68.2 billion, according to a statement.

With KKR?s backing, Jio has now raised a total of US$10.4 billion in just over a

In April, social media giant Facebook injectedUS$5.7 billion
[]in Jio, with the two firms
reportedly planning to create a WeChat-like super app. About two weeks later,
US-based investment firms Silver Lake and Vista Equity Partners announced
investments in Jio ofUS$747 million
[]andUS$1.5 billion
[], respectively.

And just this week, the digital services firm said it?s set to receive another
US$870 million
General Atlantic.

Since its inception, KKR has invested over US$30 billion in total enterprise
value in various tech companies, including Bytedance and Gojek. Its investment
in Jio is backed by the firm?s Asia private equity and growth tech funds,
according to the statement. India has been a key strategic market for KKR since
2006, the company said.

Moving forward, Jio aims to enable a digital society for 1.3 billion people and
businesses across India, including small merchants, microbusinesses, and

It has created an ecosystem comprised of networks, devices, applications and
content, platforms, service experiences, and affordable tariffs. It made voice
calls for Jio customers free across India, helping it to gain over 388 million

> $KKR [] invests
in @reliancejio [] to support
company?s vision for a digital society in India []

? KKR & Co. (@KKR_Co) May 22, 2020

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