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RIL to invest $200 million in Kalaari Capital's domestic VC fund


RIL to invest $200 million in Kalaari Capital’s domestic VC fund
February 25, 2021
The funding will be provided through Jio Platforms
Reliance Industries Ltd (RIL) is to invest $200 million in Bengaluru-based Kalaari Capital’s domestic Venture Capital fund, even as the company led by India’s richest man Mukesh Ambani has provided the first tranche of $100 million.
The balance $100 million would be invested over the next one-year period. The funding would be provided through Jio Platforms Ltd (JPL), the holding company of all digital initiatives of the group, sources close to the development said.
This follows RIL acquiring controlling stake in four Kalaari-backed start-ups Urban Ladder, Embibe, Haptik, and Zivame – and reportedly to be in talks to acquire a stake in MilkBasket. Bengaluru-based dairy start-up MilkBasket had earlier raised $7 million in a Series A funding led by Kalaari Capital. ....

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