Macquarie Capital reduces Byju's stake value by 98% due to Julius Baer Group's accusations of inflated valuation.
Macquarie Capital is slashing the value of its stake in Indian edtech startup Byju's by about 98% following accusations from Swiss bank Julius Baer Group that it charged fees based on an outsized and outdated valuation. Macquarie Capital invested around $200m in Byju's in 2021. Julius Baer CIO Yves Bonzon wrote to Macquarie Capital in January, stating that the firm was too slow to revalue the stake and provide information.
March 02, 2024
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