Catterton, the largest consumer-focused private equity firm in the world, will invest Rs 1,894.50 crore for a 0.39% stake in Jio Platforms, a record 10th investment in the Reliance Industries digital unit in seven weeks.
RIL, the oil-to-retail-to-telecom conglomerate, has now sold a 22.38% stake in Jio and raised Rs 1,04,326.65 crore from some of the world’s leading technology investors in the largest continuous fundraising by a company anywhere in the world.
L Catterton’s investment in Jio Platforms at an equity vauation of Rs 4.91 lakh crore and an enterprise valuation of Rs 5.16 lakh crore, came less than two hours after private equity investor TPG invested Rs 4,546.80 crore for a 0.93% stake.
The series of investments in Jio, which runs movies, news and music apps as well as the telecom enterprise Jio Infocomm, was led by a 9.99% stake sale to Facebook Inc for Rs 43,574 crore on April 22. Since then, General Atlantic, Silver Lake (twice), Vista Equity Partners, KKR, Mubadala Investment Company, Abu Dhabi Investment Authority and TPG have queued up for investments in Jio.
Jio Platforms is a next-generation technology platform focused on providing high-quality and affordable digital services across India, with nearly 400 million subscribers. Jio Platforms has made significant investments across its digital ecosystem, powered by leading technologies spanning broadband connectivity, smart devices, cloud and edge computing, big data analytics, artificial intelligence, Internet of Things, augmented and mixed reality and blockchain.
L Catterton is the investment partner of choice for leading consumer-focused brands around the world. With a 30-year track record of leveraging its operational expertise, deep sector insights, global network of resources, and its unique partnership with LVMH and Groupe Arnault, L Catterton has successfully invested in and helped build some of the most innovative brands at the forefront of the evolving consumer landscape, including Peloton, Vroom, ClassPass, Owndays, FabIndia, and more
With approximately $20 billion of equity capital across seven fund strategies in 17 offices globally, L Catterton is the largest consumer-focused private equity firm in the world. L Catterton's team of nearly 200 investment and operating professionals partner with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad thought partnership network. Since 1989, the Firm has made over 200 investments in leading consumer brands.
L Catterton was formed through the partnership of Catterton, LVMH, and Groupe Arnault.
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