Tata Opportunities Fund (TOF), the flagship private equity fund advised by Tata Capital, has decided to make a significant investment in Uber.
Though TOF did not specify the quantum of investment, reports suggest that the investment could be in the range of $75 million-100 million.
This is the first such investment made by TOF in a global company with headquarters outside India and underscores the confidence in Uber. The partnership will help Uber expand its services and solutions in India by leveraging the Tata Opportunities Fund’s network within the wider Tata Group as well as externally, TOF said.
Uber has said it will invest $1 billion in India in the next nine months, matching its investments in China. Wednesday’s investment by the Tata fund is separate from that amount, Uber India President Amit Jain told Reuters.