New Delhi, Jun 13 (IANS): Jio Platforms has crossed Rs 1 lakh crore in the largest continuous funds raise by a company anywhere in the world with an unprecedented ninth investment in seven weeks with TPG Capital buying 0.93 per cent equity for Rs 4,547 crore.

This is an unprecedented ninth investment in Jio Platforms in seven weeks since April 22. The investment is Rs 4,546.80 crore for a 0.93 per cent stake in Jio Platforms.

With this investment, Jio Platforms has raised Rs 1.02 lakh crore from leading technology investors, including Facebook, Silver Lake Partners (two investments), Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, and TPG.

At Rs 1.02 lakh crore, it is the largest continuous funds raise by a company anywhere in the world. It assumes significance as this was done amidst a global lock-down, clearly signifying India's digital potential and Jio's business strategy.

TPG's investment is at a similar valuation to the other recent PE investments in Jio -- equity valuation of Rs 4.91 Lakh crore and enterprise valuation of Rs 5.16 lakh crore.

This investment is another strong endorsement of Jio's tech capabilities, disruptive business model and secular long-term growth potential.

TPG is a leading global alternative asset firm founded in 1992 with more than $79 billion of assets under management across a wide range of asset classes, including private equity, growth equity, real estate and public equity.

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, "Today, I am happy to welcome TPG as valued investors in our continued efforts towards digitally empowering the lives of Indians through the creation of a digital ecosystem. We have been impressed by TPG's track record of investing in global technology businesses which serve hundreds of millions of consumers and small businesses, making the societies we live in better."

Jim Coulter, Co-CEO TPG, said, "We are excited to partner Reliance to invest in Jio. As an investor in growth, change, and innovation for over 25 years -- and with a longstanding presence in India -- we are excited to play an early role in Jio's journey as they continue to transform and advance India's digital economy. Jio is a disruptive industry leader that is empowering small businesses and consumers across India by providing them with critical, high-quality digital services. The company is bringing unmatched potential and execution capabilities to the market, setting the tone for all technology companies to come."

TPG is making the investment from its TPG Capital Asia, TPG Growth, and TPG Tech Adjacencies (TTAD) funds.