Edtech platform BYJU’S raised $250 million through structured investments from the US-based alternative investment firm Davidson Kempner.
Structured instruments are securities-based investment products linked to markets that can later be converted into shares during events such as an initial public offering (IPO).
Moneycontrol was the first to report the new development. BYJU’S refused to comment on Inc42’s queries on the latest developments.
Earlier this week, it was reported that the edtech firm was nearing a deal to secure as much as $1 Bn funding in a mix of equity and structured instruments at its current valuation of $22 Bn.
The new capital is expected to give the company some breathing room. A portion of the new capital could be used to build its war chest as it moves forward with plans to list subsidiary Aakash. The Bengaluru-based decacorn is said to be in advanced talks with Citi and Goldman Sachs about Aakash’s IPO. It has also received board approval for its IPO plans and is said to be preparing to file the necessary paperwork.
