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Vista Equity Partners has joined Silver Lake and Facebook Inc. (NASDAQ:FB) in investing in next-generation tech businesses Reliance Jio Platform with an investment of $1.5 billion.

Vista to get a 2.3% stake in Jio Platform

The investment will give the Texas-based software buyout company a 2.32% interest in the Mukesh Ambani led Jio Platform on a diluted basis. This makes it the largest investor in the telecom operator that is valued at $65 billion behind Reliance Industries and social media giant Facebook.

Reliance Jio announced plans to sell around 13.4% of its stake to Silver Lake, Facebook as well as Vista for around $8 billion. The company which launched almost four years ago has upended the telecom industry in India with free voice calls and reduced data rates.

The firm operates a telecommunication venture known as Jio Infocomm that has garnered close to 388 million subscribers making it India’s top telecom operator. Reliance Industries has invested over $30 billion in Jio Platform s and has indicated that it plans to make it a global tech leader in the leading global digital economies.

Vista Equity Partners determined to expand its portfolio in India

In the last 20 years, Vista has been investing in various firms in the software industry, with investment in over four dozen companies. The Texas-based firm indicated that it is exploring ways of expanding the coverage of its portfolio companies across India. Some of Vista’s portfolio companies have a huge presence in the country, which is the largest global internet market.

Vista has over $57 billion in capital investments globally, and its company portfolio makes the fifth-largest software enterprise globally. Its portfolio companies in India employ more than 13,000 people.

Besides, Jio Facebook, which has a 9.9% stake in Jio Platforms, indicated that it will work with the Indian company in various areas, including e-commerce. Already an e-commerce venture by the Name JioMart is piloting an ordering system on Facebook’s WhatsApp platform, which is the most popular app in India with more than 400 million users.

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