KKR to invest $1.5 billion in Reliance Industries' digital unit, biggest deal in Asia
) Jio Platforms, its biggest investment in Asia to date and bringing the amount of new funds raised by the Indian digital company this month to a massive $10 billion.
The deals highlight Jio Platforms’ potential to become the dominant player in India’s digital economy. The telecoms unit has already decimated several rivals with cut-throat pricing, while it can count on Reliance’s retail network to expand e-commerce. It is also working on connected cars, security systems and smart homes.
“We are investing behind Jio Platforms’ impressive momentum, world-class innovation and strong leadership team,” Henry Kravis, co-founder and co-CEO of the U.S. buyout firm, said in a statement on Friday.
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