Some time ago, the Chairman of Reliance Industries and the richest man in India, Mukesh Ambani, wrote to his company's shareholders saying, "Reliance Jio would play a key role in the development of the 5G ecosystem in India," and in other parts of the United States, a senior Trump administration official praised Reliance Jio as one of the "reliable 5G providers". As if that were true, Qualcomm Ventures, the San Diego-based investment arm of wireless technology company Qualcomm Inc., has announced that it has invested up to €97 million (Rs 730 crore) in Jio Platforms to help to “deploy advanced 5G infrastructure and services for Indian customers. "The amount of investment from Qualcomm Ventures will allow it to acquire a 0,15% stake on a fully diluted basis. Jio Platforms sold its entire 25.24% stake, raising approximately €15.7 billion over a period of approximately 12 weeks. The biggest investor, of course, was Facebook, which launched this pioneering run in April.
#Qualcomm invests Rs 730 million in #JioPlatforms13th investment in Jio platform in 12 months. # MukeshAmbani - #Qualcomm will help us in our 5G vision. # RelianceJio pic.twitter.com/5eoSsgqhzR July 13,
Qulacomm, the pioneer of 5G
Qualcomm is the world leader in wireless technology innovation and the engine for the development, launch and expansion of 5G. It has more than €62 billion in cumulative research and development spending and 35 years of innovation and more than 140,000 patents and patent applications. Qualcomm Ventures is a global fund that invests in pioneering companies in the wireless ecosystem in areas such as 5G, AI, IoT, automotive, networking, and business. In India, Qualcomm Ventures has invested in companies tackling key national issues, from dairy to defense and transportation. Mukesh Ambani, President and CEO of Reliance Industries, said in a press release: "Qualcomm has been a valued partner for several years and we have a common vision of connecting everything by building a strong and secure wireless and digital network and extending the benefits of digital connectivity to all in India.As a global leader in wireless technologies, Qualcomm offers deep technological knowledge and insights that will help us realize our 5G vision and India's digital transformation for individuals and businesses." Steve Mollenkopf, CEO of Qualcomm Incorporated, said: "With our common goal of extending the benefits of digital connectivity to everyone and everything, we anticipate that Jio Platforms will offer a new set of services and experiences to Indian consumers with unmatched speeds and use cases. In emerging markets, 5G is expected to transform all industries in the coming years.Jio Platforms has led the digital revolution in India with its vast digital and technological capabilities. As a catalyst and investor with a long standing presence in India, we look forward to playing a role in Jio's vision to further revolutionize India's digital economy. "
Jio, the dear
Jio Platforms has amassed close to 390 million subscribers to become the first operator of the world's second largest Internet marketplace in less than four years of existence. No wonder it is the favorite of the world's leading investors. So far, 12 global investors have bought a 25.24% stake in Jio Platforms, and these investments, along with Rs 53,124 crore obtained through a rights offering, have helped Reliance Industries become net debt free with Facebook, others Jio Platforms investors include Silver Lake (1 & 2), KKR, Vista Equity Partners, General Atlantic, Mubadala, Abu Dhabi Investment Authority, TPG, L Catterton, PIF and Intel Capital, the US investment arm. semiconductor giant Intel. And these committed investments have started to trickle down to Jio platforms. You can read more about each investment in Jio platforms here.