Abu Dhabi-based sovereign investor Mubadala will invest in Jio Platforms a tidy sum of Rs 9,093.60 crore for a 1.85% equity stake. After bagging this investment, Jio has raised a sum of Rs 87655.35 crores from leading technological pivots like Facebook, KKR, Silver Lake and many more. Jio Platforms is a technological platform wholly-owned by Reliance Industries Limited which focuses on providing high quality digital services across the 1.3 billion fellow Indians ranging from businessmen,micro-businesses and farmers so that each one of them can enjoy this technological growth. It uses leading technologies like blockchain,Internet of Things,Big Data Analytics,smart devices, artificial intelligence and many more.
Coming to Mubadala, he has US $229 billion Portfolio span with interest in multiple sectors like ICT,semiconductors,aerospace,petrochemical,healthcare and many more. He also has a global portfolio of financial holdings across all assets classes. He has a global set-up of offices at New York,Rio De Janerio and a joint venture in Hongkong. His venture business manages several venture funds in US,Europe and Middle-East.
Jio is completely owned by the Reliance Industries Limited(RIL) which is India’s largest private sector company. RIL activities includes hydrocarbon exploration and production,retail and digital services. Also,RIL has been listed in the Global 500 list of World’s Largest Corporation.
Seeing the growth of the Jio Platform, the head of Mubadala Investment Company made a statement that they have full faith on Jio’s future growth and development.They believe that this technological platform with surely help in improving the digital economy.