Struck by Byju’s, General Atlantic’s India ship is in distress. Will it survive?

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Key Points

Mumbai: On 27 January, Byjus, once Indias largest edtech company valued at $22 billion, launched a rights issue or an issue where a company raises capital from only existing investors..

Byjus, run by its charismatic founder Byju Raveendran, has been struggling with bleeding acquisitions, governance slip-ups and lawsuits filed by investors..

General Atlantic first invested in the edtech company in 2018 and then topped up its investments in subsequent funding rounds to maintain its stake of about 6%..

Combined with Byjus, General Atlantics Indian edtech exposure is about $560 millionwhich is over 10% of its total investment in India..

It is clear that many of General Atlantics tech investments will take a longer time to yield results," said an investment banker tracking the firm, who asked not to be identified...

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