Abu Dhabi Fund 10X AD is reportedly in talks with India-based unicorn edtech Byju’s for an investment.
If the talks fructify, the Abu Dhabi fund could be making the investment in either Byju’s parent company Think and Learn Pvt Ltd or its tutoring services arm Aakash Education Services (AES).
Byju’s is said to be looking to raise $400-$600 million from investors.
The Abu Dhabi-based 10X AD is a fund pool that specialises in structured investments in late stage technology ventures.
The fund is currently in discussions with Byju’s CEO Byju Raveendran for the proposed investment, the Economic Times (ET) reported.
Disrupt AD, ADQ’s venture capital platform, is another Abu Dhabi fund with which the Byju’s top honcho is in talks for investments, the ET report said.
However, it is not clear if 10X AD will lead an investor consortium of family offices and ultra-high-net-worth individuals in Abu Dhabi or go it alone and invest $150-200 million, the report said.
Buju’s is also seeking to raise as much as $250 million for AES and has reportedly approached the US-based private equity Apollo Global management for it.
The troubled edtech firm is said to be looking for a fund infusion of around $700 million to help it to tide over a liquidity crunch.
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