India, Dec. 10 -- Jio Financial Services (JFS) and global asset manager BlackRock have invested INR 230 Cr each into their two joint ventures to deepen their presence in the booming digital-first wealthtech ecosystem.

In a filing with the exchanges today, JFS said it has invested INR 136 Cr in Jio BlackRock Asset Management and an additional INR 93.5 Cr in Jio BlackRock Investment Advisers through separate rights issues. BlackRock also contributed in equal measure.

Both entities are structured as 50:50 joint ventures between JFS and BlockRock.

The capital will be used to fund business operations of the two ventures. The infusion is in line with JFS' broader strategy of building a full-stack financial services platform, spanning lending...