Abu Dhabi funds in talks to invest in Indian edtech firm By Pramod Kumar August 29, 2022, 7:35 AM Creative Commons Bollywood actor Shah Rukh Khan has featured in some of Byju’s marketing campaigns Abu Dhabi’s sovereign wealth funds are in active talks with an Indian edtech company to be part of a $400-$500 million proposed fundraising drive, the Economic Times newspaper reported, citing people close to the development. Abu Dhabi-based state holding company ADQ is already an investor in Think and Learn Private Ltd, which owns the Byju’s educational technology startup. In June 2021, the wealth fund was among investors in a $350 million fundraising by the Indian company, which pegged its valuation at $16.5 billion, making it the “most valued edtech company in the world.” “Byju is in talks with the royalty at UAE,” a source told the newspaper. “They are keen on India and the edtech story. ADQ is also an existing investor, so there is comfort. It’s not yet clear which Abu Dhabi investment vehicle will come in. It’s possible this round will be led by International Holding Company,” the source said. According to the news report, Qatar Investment Authority, which had been in advanced talks to invest $250-350 million, is yet to take a final call. The Qatari fund had been planning to invest at a discount of 40 to 50 percent to the $22 billion valuation the company commanded in its last round.
