Reliance Industries Limited on Thursday announced that it is going to make a contribution of up to $50 million in Breakthrough Energy Ventures owned by Bill Gates and George Soros among others.
Reliance to invest $50 million in Bill Gates & Grorge Soros owned Breakthrough Energy Ventures
The investment constitutes 5.75% of the size of the fund contemplated at present, the Mukesh Ambani-led company said in a regulatory filing. "The said investment will be made in tranches over the next 8-10 years," it added.
As Mint reported, the transaction is subject to approval from Reserve Bank of India. The investment does not fall within related party transactions and none of RIL’s promoter, promoter group, group companies have any interest in the transaction, it added.
Breakthrough Energy is a global group of 28 high net-worth investors from ten countries funding clean energy companies emerging from the initiatives of Mission Innovation, which was an...
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