Private Equity Fund Investments
Edtech unicorn Byju's raises $350-M from UBS, Blackstone, ADQ, others
Bengaluru-based edtech unicorn Byju's has raised USD 350 million from UBS, Blackstone, Abu Dhabi state fund ADQ, Phoenix Rising and video conference firm Zoom's founder Eric Yuan in a round that makes it India's most valuable internet startup. It has reached a valuation of USD 16.5 billion in the current funding round, surpassing fintech firm Paytm's USD 16 billion valuation. Byju's has raised over USD 1.5 billion in the last 18 months, with growth for online education turbocharged by the covid-19 pandemic. Its acquisitions in the last one year include coding firms Whitehat Jr, competitor Toppr, offline test preparation firms Aakash, Great Learning and Gradeup. The company is expected to use the new funds for more acquisitions.
From the Venture Intelligence PE-VC Deal Database: Between Nov-12 and Mar-21, Byju's had raised $2.8 Billion from Footpath Ventures, B Capital Group, Bond Capital, Owl Ventures, Sands Capital, DST Global, Silver Lake, Tiger Global, General Atlantic, Qatar Investment Authority, Prosus Ventures, CPPIB, Tencent, Sofina, Lightspeed Ventures, IFC, Verlinvest, Sequoia Capital India, Aarin Capital and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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