Silver Lake, which focuses on the technology industry, is an American private equity company. Established in 1999, it now ranks among the world’s largest technology investors.
It has an extensive portfolio that includes, among many others, companies such as Twitter, Motorola Solutions, Dell Technology, Alibaba Group, Airbnb and Unity.
Silver Lake has invested in some of the other sectors including healthcare IT, entertainment and media, 3D printing, financial technology and cybersecurity.
How Silver Lake related to Reliance Jio?
Jio Platforms Ltd. gets another big investment. Reliance Industries has announced that Jio Platforms will invest $746.8 million in investment company Silver Lake.
This comes only after the social media giant Facebook investing $5.7 billion deal that gave Facebook a stake of as much as 9.99 per cent in Reliance Jio.
Last week, Reliance announced a 39 percent slump in profit for the March quarter, hit by a steep fall in oil prices and lower demand for fuel, and said it had attracted investor interest for a Facebook-like offer at the time.
This investment will provide a solid foundation for Jio Platforms to build on what Reliance Jio says is a vision of Digital India for 1.3 billion people and businesses across the country, including small businesses, micro-businesses and farmers.
Jio Network, formerly known as Jio, also operates a suite of services including JioSaavn music streaming service, smartphones, broadband company, JioTV on-demand live television service and JioPay payment service.
“I am delighted to welcome Silver Lake as a valued partner in continuing to grow and transform the Indian digital ecosystem for the benefit of all Indians. 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,” says Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd.
This year Silver Lake made several investments. It had invested in Expedia and Airbnb last month. It invested $1bn in Twitter in March, and co-led a round in Waymo.
This is Silver Lake’s second investment making at an Indian company. In 2013, it invested in commodity trading and risk management software startup Eka based in Bangalore.
In addition, Reliance Industries Ltd aims to remove $21.4 billion (around Rs. 1.62 lakh crores) of net debt by the end of the year with this contract, as well as other fund-raising activities.