Macquarie Capital is writing down nearly its entire investment in Indian startup Byju's by 98%, weeks after Swiss bank Julius Baer Group accused it of charging fees based on an outdated and excessively high valuation. This markdown follows Macquarie's investment in Byju's in 2021, funded by Julius Baer's high net worth (HNI) customers and others, without any adjustments to the holding value until recently. In related developments, Byju's founder has reported difficulties in paying employee salaries due to financial troubles. Furthermore, a TechCrunch report revealed that a Byju's unit is the beneficial owner of $533 million funds.
Camshaft says Byju’s unit beneficial owner of $533 million funds: https://t.co/adyxlrNeoI by TechCrunch #infosec #cybersecurity #technology #news
Camshaft says Byju’s unit beneficial owner of $533 million funds https://t.co/SMAVtKVIlu
More trouble for Byju’s! Macquarie slashes valuation by 98 pc - Inside details https://t.co/Kfl6PiXCKK
More trouble for Byju’s? Founder says unable to pay salaries to employees due to THIS reason https://t.co/RBK7AfD14C
The letter Julius Baer sent to Macquarie, which had taken money from JB's HNI customers and others to invest in Byju's in 2021 but didn't do any adjustments/markdowns in its holding value until recently: https://t.co/zwW67klfFD
Macquarie slashes Byju’s valuation by 98% after Julius Baer protest Macquarie Capital is writing down nearly its entire investment in Byju’s, weeks after Swiss bank Julius Baer Group accused it of charging fees based on an outsized and outdated valuation. https://t.co/O21wRC8us2
Macquarie Capital is writing down nearly its entire investment in Indian startup Byju’s, weeks after Julius Baer accused it of charging fees based on an outsized and outdated valuation https://t.co/K3OLt7TMxs
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