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Last Updated : Jun 17, 2019 05:10 PM IST | Source: Moneycontrol.com

Byju's to receive $200-250 million investment from Qatar sovereign fund: Report

The deal will be QIA's first direct investment in an Indian startup.

Moneycontrol News @moneycontrolcom

Qatar's sovereign wealth fund will soon invest $200-250 million in Byju's, as per a report in Business Standard.

Qatar Investment Authority (QIA) will acquire less than 5 percent of Byju's, the report said.

Both companies have signed the term sheet for the transaction, sources told the paper. The report did not specify whether existing investors would make a secondary stake sale.

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The deal will be QIA's first direct investment in an Indian startup. The sovereign fund has also been an investor in Bharti Airtel since 2013.

Moneycontrol could not independently verify the story.

In March, Byju’s last round of funding valued the company at $5 billion, making it the world’s most valued education technology company.

The Canada Pension Plan Investment Board (CPPIB) and private equity firm General Atlantic (GA) had participated in the funding.

Just three months before that, Byju’s had raised $540 million in a funding round led by Naspers.

The Bengaluru-based company was founded by Byju Raveendran in 2011. It reported a total revenue of Rs 1,430 crore for the year ended March 2019.

 
First Published on Jun 17, 2019 05:10 pm
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