(Bloomberg) -- General Atlantic will invest 36.8 billion rupees ($498 million) in billionaire Mukesh Ambani’s retail venture as Asia’s richest man continues to garner funds after securing more than $20 billion for his digital services unit earlier this year.

The private equity firm will hold a 0.84% stake in Reliance Retail Ventures Ltd., according to an exchange filing Wednesday, giving the business a pre-money equity value of 4.29 trillion rupees.

The deal follows U.S. private equity group KKR & Co.’s $754 million investment and Silver Lake Partner’s $1 billion investment this month in the retail unit controlled by Ambani’s Reliance Industries Ltd. Ambani has been amplifying his focus on consumer businesses to tap the growth in both offline and online retail in a market of billion-plus consumers.

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