Recently in the world of start-ups and business, Mukesh Ambani’s Reliance Industries Limited is investing USD 50 million in Bill Gates owned Breakthrough Energy Ventures.
Bill Gates founded Breakthrough Energy Ventures back in 2015 and it serves as a global group of 28 super successful investors from ten different countries who are certainly committed to provide funds and invest in Clean Energy Companies who are emerging from environment initiatives such as Mission Innovation which was also announced at the United Nations Climate Change Conference of 2015, the same year when this private company was founded.
According to the regulatory filing, Reliance Industries Limited is going to make the said investment of $50 million in tranches over the next 10 years.
Bill Gates founded Breakthrough Energy aims to find efficient solutions to the on-going climate crisis in the world and it does so by investing time and resources to develop breakthrough energy and advanced agricultural technologies that benefit one and all. When asked about the fresh funding, the company is said to invest it further to support innovation and advancements in the clean energy sector.
These efforts made by Breakthrough Energy Ventures are certainly not in vain, the consequent results will benefit all of mankind, including India. Considering the business point of view, investing in such a future-oriented business will prove to provide good returns for investors from around the globe, especially to India via Mukesh Ambaini’s Reliance Industries Ltd.
According to reports, the monetary transaction is subject to approval from the Reserve Bank of India and serves as a direct investment with no substantial involvement of any related party or any of Reliance Industries’ partners, promoters, promoter group companies.
Reliance Industries further mentioned in the regulatory filing,
“The Capital contribution commitment of USD 50 million constitutes 5.75% of the size of the fund contemplated at present.”
Breakthrough Energy Ventures (BEV) is a limited partnership company that is newly incorporated under the United States of America’s Delaware State Laws.
However, it is not surprising to see Reliance Industries Limited (RIL), the oil-to-retail conglomerate to enter into a definitive agreement to invest $50 million in Microsoft co-founder Bill Gates’ company. Mukesh Ambani’s RIL has its branches in various industries across India including Pharmaceuticals, retail, textiles, telecommunications, natural resources and energy as well.
Most recently, Reliance Retail Ventures has acquired a 100% stake in furniture retailer Urban Ladder for INR 182 Crores.
The company is certainly moving forward with its business approach and investing in Breakthrough Energy Ventures for clean energy solutions is an investment that will give incredible returns to India in the near future.