Jio-BlackRock Joint Venture Sparks Comments From Zeroda’s Nithin Kamath

Jio-BlackRock

The entry of BlackRock, one of the world’s biggest asset managers, into the Indian market is turning more than a few heads. The American investment company’s big bet on the Indian financial sector is marked by the announcement of the Jio-BlackRock joint venture between the Indian telecom giant Jio on June 30th, 2025. Zeroda founder Nithin Kamath took to social media platform X, saying it was ‘great news’, and if the venture can help ‘expand the markets beyond the top 10 crore Indians,' it is more likely to see success.

• Both entities have additionally invested US$7.78 million into the undertaking, which had an initial investment of US$150 million from each during its official July 2023 launch. Jio BlackRock Investment Advisers (JBIAPL) has now also received approval from the markets regulator, Securities and Exchange Board of India, to offer high-quality investment solutions. As of now, Jio BlackRock Investment Advisers has come out with three financial products: JioBlackRock Money Market Fund, JioBlackRock Overnight Fund, and JioBlackRock Liquid Fund.
• The Jio-BlackRock business model hinges on a unique direct-to-consumer approach with zero brokerage, no commission, and a zero expense ratio during the launch offer. Their Liquid Fund is set to invest in debt and money market instruments such as bonds, loans, and mortgages, targeting cost-conscious investors who are beginners to mutual funds.
• Jio has systematically established a massive digital ecosystem, first through its telecom expansion, followed by the success of its JioFinance app. With the new venture, Jio has plans to integrate BlackRock’s Aladdin platform, a powerful risk and portfolio management tool, bringing institutional-grade technology to individual investors. In 2016, Jio made a big splash in the telecom sector, offering free voice call services and low-cost internet connectivity. BlackRock is hoping to capitalize on the massive footprint and goodwill Jio has in the minds of the Indian consumer. Jio Finance is the backbone of the Jio-BlackRock partnership and will facilitate bringing together Jio’s digital reach and BlackRock’s investment know-how for mass-market accessibility.
• With mutual fund penetration still low (16% AUM-to-GDP ratio versus a global 63%), Jio-BlackRock’s approach, backed by recent data showing a 35.46% year-over-year AUM growth to ₹53.40 lakh crore by March 2024, aims to bring financial inclusion to the forefront, empowering everyday Indians to build wealth. Recently, Jio Financial Services saw a 3% share value surge after investing Rs 190 crore in Jio Payments Bank, acquiring full ownership from SBI, with Q4 profits reflecting a notable uptick in assets under management.