Has BlackRock invested in Jio?

 

BlackRock has invested in Jio (or more precisely, Jio Financial Services etc.) — what terms, how and when.

Who are the players

• BlackRock is a major US asset manager — among the biggest globally.

• Jio Financial Services (JFS) is the financial-arm spun off from Reliance (Mukesh Ambani’s conglomerate). It covers things like payments, asset management, broking etc.

So when people ask “Has BlackRock invested in Jio?”, it’s not exactly that BlackRock bought a stake in a telecom-Jio, but rather there is a partnership / joint venture in the financial services space under “Jio Financial Services”.

What is the relationship / deal?

1. Joint Venture (JV) for Asset Management / Mutual Funds
   In July 2023, Jio Financial Services and BlackRock announced a 50:50 joint venture called Jio BlackRock. Each planned to invest around US$150 million. The aim: digital-first asset management, mutual funds etc. BlackRock+2CNBC+2

2. Mutual Fund Business Approval

   • In May 2025, SEBI (India’s markets regulator) granted certificate of registration to “Jio BlackRock Mutual Fund”, and approved Jio BlackRock Asset Management Private Limited to act as the AMC (asset management company). Business Standard+2mint+2

   • Earlier, the entities (Jio BlackRock AM and Trustee) were incorporated in October 2024 pending regulatory approval. mint+1

3. Wealth Management / Broking JV

   • In addition to mutual funds, the JV also is setting up “wealth management and broking services”. For example, in 2025, they invested Rs 66.5 crore for 6.65 crore shares in Jio BlackRock Investment Advisers Private Limited. That is the entity managing wealth/advisory & broking side. The Economic Times+2The Economic Times+2

   • Jio BlackRock Investment Advisers got SEBI’s permission to operate as an investment adviser in June 2025. Business Today+1

So, yes — BlackRock has invested in Jio’s financial arm

To answer more directly:

• Yes, BlackRock has invested in Jio Financial Services / Jio BlackRock, via the 50:50 JV.

• It’s not that BlackRock owns part of “Jio telecom / Jio group telecom business”, but in the financial services / asset management / broking / mutual fund businesses under Jio Financial.

Key figures & details

• The initial planned investment for the JV (Jio BlackRock) was around US$150 million each. CNBC+2India Today+2

• In Indian rupees, several investments have been made:
  • Rs 117 crore infused into the mutual fund business (Jio BlackRock Asset Management) with both parties subscribing equal shares. Business Standard+1
  • Rs 66.5 crore injected into the wealth management/broking venture (Jio BlackRock Investment Advisers) The Economic Times+1

• SEBI’s approvals have come through for mutual fund operations and for the advisory role. Reuters+3Business Standard+3mint+3

What it means

• This is a strategic entry by BlackRock into India’s fast-growing financial services / mutual fund sector via a partner (Jio’s financial arm).

• Jio brings digital scale, brand recognition, reach; BlackRock brings global asset management experience, risk management, product know-how.

• The focus seems to be on “digital first”, “affordable investment solutions”, likely targeting both retail investors and maybe institutional investors.