Jio Platforms raise ₹1,894.50 crore from L Catterton

Jio Platforms' total funding now stands at ₹104,326.95 crore.

With this investment, L Catterton will have a 0.39% equity stake in Jio Platforms on a fully diluted basis. (MINT_PRINT)

Shortly after the TPG funding, Reliance Industries Limited announced another investment it received for Jio Platforms. L Catterton will invest ₹1,894.50 crore in Jio Platforms. This brings the total funding in Jio Platforms to ₹104,326.95 crore, and it values Jio Platforms at an equity value of ₹4.91 lakh crore and an enterprise value of ₹5.16 lakh crore.

With this investment, L Catterton will have a 0.39% equity stake in Jio Platforms on a fully diluted basis. L Catterton which is one of the world's largest private equity firms has investments in companies like Peloton, Vroom, ClassPass, Owndays and FabIndia. 

“I am delighted to welcome L Catterton as a partner in our journey to unleash the power of digital for India while providing a consumer experience that is among the best in the world. I particularly look forward to gaining from L Catterton's invaluable experience in creating consumer-centric businesses because technology and consumer experience need to work together to propel India to achieving digital leadership," Mukesh Ambani said. 

This is the second investment Jio Platforms announced today. Less than two hours ago, RIL announced it will raise ₹4,586.80 crore from TPG which led to the total funding for Jio Platforms cross one lakh crore. Jio has so far received fundings from Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA and TPG. Its total funding now stands at ₹104,326.95 crore.