Jio Can Help Advance India as Global Tech Leader: General Atlantic’s Sandeep Naik
Yesterday, noted American investment firm General Atlantic picked up a 1.34 percent stake in Jio Platforms, the holding company of Reliance Jio — the largest telecom operator of India. The investment of Rs 6,598.38 crore comes on the back of similarly sizeable investments by Silver Lake (Rs 5,655.75 crore for 1.15 percent), Vista Equity Partners (Rs 11,367 crore for 2.3 percent) and the world’s largest social media corporation, Facebook (Rs 43,574 crore for 9.99 percent). With total assets of Rs 2.57 lakh crore under management across numerous scripts globally, General Atlantic is a prolific investor in technology platforms, and its interest in Jio Platforms further cements the operator’s growing stature and influence in India’s quest for technological advancement.
Source: News18
