Jio Financial Services Limited (JFS) and BlackRock join forces to launch a new asset management firm, Jio BlackRock. The joint venture, backed by a combined investment of $300 million, aims to offer tech-enabled access to innovative investment solutions for Indian investors. 

With each partner committing $150 million, the company seeks to make its mark in a market led by major players like SBI Mutual Fund, ICICI Prudential Mutual Fund, and HDFC Mutual Fund. Operations will commence after regulatory approvals, with the company having its own management team.

“India represents an enormously important opportunity. The convergence of rising affluence, favourable demographics, and digital transformation across industries is reshaping the market in incredible ways,” said Rachel Lord, Chair and Head of APAC, BlackRock.

“This is an exciting partnership between JFS and BlackRock, one of the largest and most respected asset management companies globally,” said Hitesh Sethia, President and CEO, JFS.

“The partnership will leverage BlackRock’s deep expertise in investment and risk management along with the technology capability and deep market expertise of JFS to drive digital delivery of products."