MUMBAI, April 15 (Reuters) - India's Jio Financial

Services has entered into a joint venture with

U.S.-based BlackRock Inc ( BLK ) to set up a wealth management

and broking business, the companies said on Monday.

Jio Financial Services, part of billionaire Mukesh Ambani

led-Reliance Group, and BlackRock ( BLK ) formed a 50:50 joint venture

to launch asset management services in India in July 2023.

The two companies had planned an initial investment of $150

million each in the joint venture.