Abu Dhabi’s ADQ announces investment in Indian edtech major Byju’s

Online Education

Abu Dhabi’s state holding company ADQ has invested in India’s online tutoring firm Byju’s, which has emerged as one of the country’s most valuable startups.

“We met Byju in 2020 and were floored by his story. Honored to now be a part of it!,” said Mayank Singhal, head of venture capital and technology at ADQ said in a Linkedin post.

ADQ has not commented on how much it has invested in the startup. Byju’s declined to comment.

India’s Economic Times reported ADQ was among the investors in the latest $350 million fund raising by Byju’s, which could value it at $16.5 billion.

Qatar Investment Authority invested in the startup in 2019.

ADQ, established in 2018, has gained prominence in the past year due to a flurry of deals. It is Abu Dhabi’s third major state fund after Abu Dhabi Investment Authority (ADIA) and Mubadala.

ADQ, which owns Abu Dhabi Ports, Abu Dhabi Airport and bourse operator ADX, has also built up a portfolio of food and agriculture businesses and last year agreed to acquire an indirect 45% equity stake in commodities trader Louis Dreyfus Co.

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.