Silver Lake – an American private-equity firm, has invested $750 million in the Reliance Jio Platforms in an equity exchange deal. The equity firm has picked up 1% stake in Jio Platforms Ltd which is a subsidiary of Reliance Industries. This is the second major investment that Jio platform has received in less than two weeks. In the third week of April, social media giant Facebook picked up a nearly 10% stake in Jio for $5.7 billion.

The investment from Silver Lake has come at a 12.5% premium to the Facebook deal. Interestingly, the Facebook deal came another agreement attached to it which will enable Facebook’s WhatsApp to facilitate Jio Retail and JioMart operations.

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On the deal, Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd. said: “Silver Lake has an outstanding record of being a valuable partner for leading technology companies globally. Silver Lake is one of the most respected voices in technology and finance. We are excited to leverage insights from their global technology relationships for the Indian Digital Society’s transformation.”

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The Silver Lake Firm is known for investing in tech and consumer tech companies. In India, it has also invested Eka Software while globally it’s investments include Airbnb, Alibaba, Twitter, Alibaba, Ant Financial, and Motorola.

“Jio Platforms is one of the world’s most remarkable companies, led by an incredibly strong and entrepreneurial management team who are driving and actualizing a courageous vision. They have brought extraordinary engineering capabilities to bear on bringing the power of low-cost digital services to a mass consumer and small businesses population,” Egon Durban, Co-CEO and Managing Partner, Silver Lake said.

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