It also announced its 10th deal 1894.50 crore by L Catterton, one of the worlds largest consumer focused private equity firms. L Catterton is built in a partnership with LVMH and Groupe Arnault. L Catterton will now have a 0.39% equity stake in Jio.

This takes Jios total investments to 104,326.95 crore from the likes of Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton since April 22, 2020.

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

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Ambani is also counting on L Cattertons experience in creating consumer-centric businesses.

Over our more than 30 year history, we have established a track record of building many of the most important brands across all consumer categories and geographies, from retailers, omni-channel and digitally native brands. We are strong supporters of fostering growth through product development, enhanced digital capabilities and strategic alliances. We look forward to partnering with Jio, which is uniquely positioned to execute on its vision and mission to transform the country and build a digital society for 1.3 billion Indians through its unmatched digital and technological capabilities," said Michael Chu, Global Co-CEO of L Catterton in a statement. Advertisement

The deal is set to be closed in the coming week.

Reliance Jio gets to pick between Google and Microsoft for the last tranche of investments, two sources in the know told Business Insider. The ball is in Reliances court they get to pick and choose. They will decide what is the best strategic fit for Reliance and will evaluate how smart the money is, said the source. Advertisement

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Reliance Jio lands its 9th and 10th investment 4,546.80 crore from TPG and 1,894.50 crore from LVMH-backed - Business Insider India