Vista Equity Partners to invest $1.5b in Reliance Jio Platforms

Reliance Jio. Photo: Livemint

Private equity firm Vista Equity Partners will invest Rs11,367 crore in Jio Platforms for a 2.32% stake. This is Jio Platforms’ third deal after Facebook and Silver Lake’s share acquisition plans over the last two weeks.

“This investment values Jio Platforms at an equity value of 4.91 lakh crore and an enterprise value of 5.16 lakh crore,” Reliance Industries said in a statement on Friday.

“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, has built a platform to scale and advance the data revolution it started. We are thrilled to join Jio Platforms to deliver exponential growth in connectivity across India, providing modern consumer, small business and enterprises software to fuel the future of one of the world’s fastest-growing digital economies,” commenting on the investment, Robert F. Smith, Founder, Chairman and CEO of Vista, said.

Vista will become the largest investor in Jio Platforms after RIL and Facebook. Facebook said on April 22 it would invest $5.7 billion in Jio Platforms for a 9.99% stake. Then on May 4, US private equity firm Silver Lake said it will invest 5,655.75 crore ($747 million) in Jio Platforms for a 1.15% stake.

Vista has more than $57 billion in cumulative capital commitments and its global network of companies collectively represents the 5th largest enterprise software company in the world. Currently, Vista portfolio companies have a significant presence in India with over 13,000 employees.

Silver Lake investment in Jio Platforms was at a 12.5 per cent premium to the Facebook’s USD 5.7 billion ( 43,574 crore) investment for a 9.99 per cent stake in the firm.

Facebook had bought a 9.99 per cent stake in Jio Platforms for USD 5.7 billion ( 43,574 crore) at an enterprise value of 4.62 lakh crore.

Morgan Stanley acted as financial advisor to Reliance Industries for the completion of the deal.

This article was first published on livemint.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.