Consumer PE fund L Catterton invests Rs 1,895 cr in Jio Platforms Limited

NEW DELHI: Reliance Industries Limited (RIL) and Jio Platforms Limited, Indias leading digital services platform, on Saturday announced an investment of Rs 1894.50 crore by L Catterton, one of the worlds largest consumer focused private equity firms.

This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. This is the second transaction announced on Saturday within hours as earlier TPG had acquired equity in Jio.

L Catterton's investment will translate into a 0.39 per cent equity stake in Jio Platforms on a fully diluted basis. The fund has a deep consumer understanding which is expected to bolster Jio's tech initiatives for Indian consumers.

With this investment, Jio Platforms has raised Rs 1.04 lakh crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG and L Catterton since April 22.

Founded in 1989, L Catterton is the investment partner of choice for leading consumer-focused brands around the world. With a 30-year track record of leveraging its operational expertise, deep sector insights, global network of resources, and its unique partnership with LVMH and Groupe Arnault, L Catterton has successfully invested in and helped build some of the most innovative brands at the forefront of the evolving consumer landscape, including Peloton, Vroom, ClassPass, Owndays, FabIndia, and more. (IANS)

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