Jio Platforms-Vista Equity deal: All you need to know about RIL's latest high-profile investor
The latest round of investment by Vista values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
Reliance Industries on Friday announced that US-based private equity firm Vista Equity Partners will buy a 2.32 percent stake in Jio Platforms for Rs 11,367 crore, making it the third high profile investment in the firm in less than a month.
Vista’s Founder & Chairman Robert F. Smith says co is thrilled to join Jio Platforms to deliver exponential growth in connectivity across India, providing modern consumer, small business and enterprise software to fuel the future of one of the world’s fastest growing digital eco pic.twitter.com/M7KppYODJb
— CNBC-TV18 (@CNBCTV18Live) May 8, 2020
Vista Equity Partners is a US-headquartered investment firm that exclusively invests in tech and software companies, including enterprise software, data, and technology-enabled organizations across private equity, credit, public equity, and permanent capital strategies.
With more than $52 billion in capital commitments, it is now the world’s largest tech-focused fund. This includes a $16 billion tech fund raised by it in 2019 – the largest ever single tech fund raise by an independent private equity firm.
The firm was founded in 2000 by American businessman and investor Robert F. Smith and Brian Sheth.
Its portfolio constitutes more than 60 enterprise software, data and technology-enabled companies across the world. Some of its top investments include Solera, Tibco and Inflobox.
Vista draws on nearly two decades of expertise and best practices investing in and operating enterprise software companies and is committed to partnering with entrepreneurs, founders and executives to grow their companies through capital as well as operational support.
Vista’s investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity.
Commenting on the investment in Jio Platforms, Robert F. Smith, Founder, Chairman and CEO of Vista, said, “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, have 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 enterprise software to fuel the future of one of the world’s fastest growing digital economies,” Smith added.
(Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd which publishes Firstpost)