Private Equity

PE Fund Investments

Byju's to raise $2.4 B to buy US edtech firm 2U

Mint  

Think and Learn Pvt. Ltd, which operates unicorn edtech service Byju's, has launched a fundraising effort to finance the acquisition of US-based edtech company 2U for USD 2.4 billion. It has already approved an INR 5,547 crore private placement of shares and has separately secured a USD 2.4 Billion acquisition financing commitment from JPMorgan. Maryland-based, publicly listed 2U contracts with colleges and universities to build, deliver and support online degree and non-degree programs. The company is an online program manager (OPM), supplying its client institutions with a cloud-based software-as-a-service platform, coursework design, infrastructure support, and capital.

From the Venture Intelligence PE-VC Deal Database: Between Nov-12 and Mar-22, Byjus had raised over USD 4.5 Billion from various investors including Sequoia Capital India, Tiger Global, GSV Ventures, ADQ, Owl Ventures, B Capital Group, Prosus Ventures, Silver Lake, Blackstone, Sumeru Ventures, Vitruvian Partners, General Atlantic, CPPIB, Verition Fund Management, Oxshott Capital, Chan Zuckerberg Initiative, Edelweiss Private Equity, IIFL VC, Others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)