American private equity firm General Atlantic will invest Rs 6,598.38 crore for a 1.34 percent stake in Jio Platforms. This will be a fourth big investment in Jio Platforms in as many weeks.

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The Rs 6,598 crore investment in the Indian telecom major marks General Atlantic’s largest investment in Asia.

With its latest bet, the New York-based private equity firm has now made 15 investments in Indian startups over the past 13 years.

Its other investment in an Indian startup this year came in Unacademy. General Atlantic invested in the edtech startup in March. The firm had two investments last year – in NoBroker.com and in Rubicon Research.

General Atlantic invested in four firms in 2018 -- KFin Technologies Private Limited, Byju’s, KIMS Hospital and Capital Foods. Its only 2017 investment in India was in Absolute Barbecue.

It invested in PNB Housing Finance and IIFL Wealth Management in 2016.

Further, it invested in BillDesk in 2015, House of Anita Dongre in 2013 and Mu Sigma in 2011.

General Atlantic’s earliest investment in the country goes back to 2007 when it backed the National Stock Exchange.

With General Atlantic’s investment, Jio Platforms has now raised Rs 67,194.75 crore from leading technology investors in less than four weeks. Jio Platform’s other recent investors include Facebook, Silver Lake Partners and Vista Equity Partners.

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First Published:May 17, 2020 5:56 PM IST