Reliance to invest USD 50 mn in Bill Gates’ Breakthrough Energy Ventures
Reliance Industries has invested USD 50 million in Breakthrough Energy Ventures, a climate change company owned by Microsoft co-founder Bill Gates.
In a filing to stock exchanges, Reliance said it will make the investment in tranches over the next 8 to 10 years.
“The capital contribution commitment of USD 50 million constitutes 5.75 per cent of the size of the fund contemplated at present,” the company said.
The transaction is subject to approval from the Reserve Bank of India (RBI).
The oil-telecom-to-retail conglomerate said it has “entered into a definitive agreement, for making a capital contribution, up to USD 50 million, in Breakthrough Energy Ventures II, L.P. (BEV), a limited partnership, newly incorporated under the Delaware State Laws, United States of America.”
