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Former Reliance Jio executive raises $130 mn to back mid-market startups

Livemint

Livemint · 1y ago

Former Reliance Jio executive raises $130 mn to back mid-market startups

Former Reliance Jio executive, Vikas Choudhury, has raised $130 million from domestic and foreign investors for his growth capital firm, Playbook Partners. The firm will invest in profitable, mid-market, tech-enabled Indian startups. Choudhury, who spent five years at Reliance Jio, aims to raise an additional $120 million. Playbook Partners will typically invest $10-20 million in growth-stage companies across various sectors including health-tech, SaaS, fintech, ecommerce, and supply chain. The firm will target companies with substantial revenue, demonstrated growth, and sustainable unit economics. Choudhury also stressed the importance of visionary founders and affordable products at scale in the Indian market.

Related News

Former Jio top boss sets up growth stage startup fund Playbook Partners

Economic Times

Economic Times · 1y ago

Former Jio top boss sets up growth stage startup fund Playbook Partners

Vikas Choudhury, a former executive at Reliance Jio, has launched a new fund called Playbook Partners. The fund has raised $130 million in its first close and aims to eventually reach a size of $250 million. Playbook will focus on investing in growth-stage tech-first companies with a revenue base of Rs 100 crore to Rs 200 crore. Choudhury plans to invest between $10 million and $20 million per company and is particularly interested in businesses that use digital innovation to augment distribution or solve large-scale problems.

‘130 mn 5G users in India by end-2023’

Livemint

Livemint · 2y ago

‘130 mn 5G users in India by end-2023’

India is projected to have 130 million 5G users by the end of 2023, marking a significant increase from last year's 31 million users. The Ericsson Mobility Report predicts that the number of 5G subscribers in India will reach 860 million by 2029, accounting for 68% of all mobile subscribers in the country. This growth is expected to drive social and economic inclusion. Bharti Airtel and Reliance Jio have played a significant role in India's 5G expansion, with plans to cover all areas by next year.

D-St plans on Jio's mind, likely tariff hike may boost valuation: Analysts

Economic Times

Economic Times · 3m ago

D-St plans on Jio's mind, likely tariff hike may boost valuation: Analysts

Reliance Industries plans to list Jio Platforms, its telecom unit, by mid-2026, potentially increasing tariffs by 15% to enhance Jio’s valuation, currently estimated at $133 billion. Analysts suggest this could boost stock potential and provide lucrative exit opportunities for Jio's investors. A recent regulation lowering minimum public float aids the listing. The move aligns with broader expansions in data centers and cloud services, positioning Jio against competitors like Bharti Airtel in India's telecom market.

Former Jio executive floats VC fund for growth-stage bets

VCCircle

VCCircle · 1y ago

Former Jio executive floats VC fund for growth-stage bets

Former Reliance Jio executive Vikas Choudhury has launched a new venture capital fund called Playbook Partners. Choudhury, who previously rolled out Pivot Ventures, a multi-family office venture capital fund with a portfolio of over 75 companies, aims to focus on growth-stage investments. His experience with Jio's telecom, media, fintech, and M&A operations will be valuable in identifying promising opportunities for the fund.

Jio AirFiber to target 200 mn homes

Livemint

Livemint · 2y ago

Jio AirFiber to target 200 mn homes

Reliance Industries' Chairman Mukesh Ambani outlined key growth areas for Jio, including the consumer segment powered by Jio 5G and Jio Bharat, the home segment with Jio AirFiber, and the business segment with global expansion. Ambani aims to develop India-specific AI models, expand computing capacity, and integrate AI/ML capabilities within their 5G Stack. Jio AirFiber, a fixed 5G wireless broadband offering, is set to launch on September 19, aiming to cover 200 million high-paying homes. Jio also plans to complete its pan-India 5G coverage by December.

Reliance Jio continues winning streak, adds 3.4 Mn subscribers in September

Inc42 · 2y ago

Reliance Jio continues winning streak, adds 3.4 Mn subscribers in September

Reliance Jio has maintained its dominant position in the Indian telecom industry, adding 3.4 million wireless subscribers in September. This solid growth helped Jio achieve a market share of 39.06%, closely followed by Airtel with a share of 32.85%. Meanwhile, Vodafone Idea (Vi) lost 2.32 million subscribers during the same period. The overall number of active wireless subscribers in India reached around 1.04 billion, with the country's teledensity improving to 82.54%. The telecommunication bill recently introduced in Parliament is expected to impact the industry further.

Airtel trails Jio in net user additions, Vi loses more

Economic Times

Economic Times · 5m ago

Airtel trails Jio in net user additions, Vi loses more

Reliance Jio outpaced Bharti Airtel in net subscriber additions in May, with Jio gaining 2.7 million new users compared to Airtel's 275,621. Vodafone Idea and BSNL saw declines, losing 274,103 and 1.35 million subscribers, respectively. Jio led in the 5G fixed-wireless access segment, despite losing 286,331 users, due to reclassification of certain users. The telecom market saw a total of 2.09 million new wireless subscribers, with Jio retaining the largest market share at 40.92%.

Jason Kothari’s new startup Mythik raises $15 Mn in Seed round

Entrackr

Entrackr · 7m ago

Jason Kothari’s new startup Mythik raises $15 Mn in Seed round

Jason Kothari, the former Snapdeal executive, has raised $15 million in a seed funding round for his new startup, Mythik. The round saw participation from Sakal Media Group, BITKRAFT, VC Grid, Visceral Capital, Jason Kothari, Shah Rukh Khan’s family office, Patni family office, Saif Saeed Ghobash, Jayanti Kannai, Pravin Jain, Marc Younan, Deepen Parikh, Samir Vora, Samarth Parekh, Anurag Goel, Nishant Aggarwal, and others. Launched by Kothari last month, Mythik is a tech-first global entertainment company aiming to bring Eastern mythology, history, and folktales to a worldwide audience for the first time and to create a "Disney from the East." Jason Kothari, Founder of Mythik, said, “We are excited about the world-class and strategic investors we have brought together and look forward to realizing Mythik’s vision and mission—to bring Eastern mythology, history, and folktales to the forefront of global entertainment and inspire happiness, peace, and hope.” The company’s founding team includes former senior executives from Disney, Netflix, Amazon Studios, Jio, and Tencent. Kothari’s entrepreneurial journey began at Wharton, where he acquired the bankrupt comic book publisher Valiant Entertainment and led its turnaround. He later sold the company to DMG Entertainment for $100 million and served as executive producer of Bloodshot, a film based on a Valiant character, starring Vin Diesel. Kothari joined Housing.com in 2015 and was named CEO following the exit of founding CEO Rahul Yadav. He later served as CEO of FreeCharge for eight months and as Chief Strategy and Investment Officer at Snapdeal for one and a half years.

Japanese PE Advantage Partners set for India play, hires ex- Apollo Global exec to lead

VCCircle

VCCircle · 1y ago

Japanese PE Advantage Partners set for India play, hires ex- Apollo Global exec to lead

Japanese private equity firm Advantage Partners has hired a former executive from Apollo Global to lead its expansion into the Indian market. Advantage Partners focuses on mid-market investments in Japan and other Asian economies. The firm recently launched its first Asia (excluding Japan) buyout fund worth $380 million. With its new hire, Advantage Partners aims to strengthen its presence and capitalize on investment opportunities in India.

Jio Financial says not in talks to acquire Paytm's wallet business | TechCrunch

TechCrunch · 1y ago

Jio Financial says not in talks to acquire Paytm's wallet business | TechCrunch

Reliance Industries' subsidiary, Jio Financial Services, has denied reports that it is in talks to acquire Paytm's wallet business following the Reserve Bank of India's crackdown on the fintech firm's payments bank. Last week, the central bank prohibited Paytm Payments Bank from offering several services, prompting speculation that a deal with Jio Financial Services was on the cards. Paytm shares rose 5.5% on the back of the news.

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