The US investment firm, General Atlantic will be investing ₹6,600 crore in Jio Platforms for 1.34 per cent stake in the telecom arm of Reliance Industries, the company said in a statement.

The investment firm had in the past supported fund Airbnb Inc and Uber Technologies Inc.

"This investment values Jio Platforms at an equity value of ₹ 4.91 lakh crore and an enterprise value of ₹ 5.16 lakh crore," told Jio Platforms. This investment continues to reaffirm Jio as a next-generation software product and platform company, the company revealed in a statement.

Chairman and Managing Director of Reliance Industries, Mukesh Ambani, said, “I am thrilled to welcome General Atlantic, a marquee global investor, as a valued partner. I have known General Atlantic for several decades and greatly admired it for its belief in India’s huge growth potential. General Atlantic shares our vision of a Digital Society for India and strongly believes in the transformative power of digitization in enriching the lives of 1.3 billion Indians. We are excited to leverage General Atlantic’s proven global expertise and strategic insights across 40 years of technology investing for the benefit of Jio."

CEO of General Atlantic, Bill Ford, said, “As long-term backers of global technology leaders and visionary entrepreneurs, we could not be more excited about investing in Jio. We share Mukesh’s conviction that digital connectivity has the potential to significantly accelerate the Indian economy and drive growth across the country. General Atlantic has a long track record working alongside founders to scale disruptive businesses, as Jio is doing at the forefront of the digital revolution in India."