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Now, Qatar wealth fund goes after Byju Raveendran's personal assets

Livemint

Livemint · 1y ago

Now, Qatar wealth fund goes after Byju Raveendran's personal assets

Qatar Investment Authority (QIA) has asked an Indian court to compel Byju Raveendran, the founder of edtech company Byju's, to disclose his personal assets and prevent him from selling or transferring them. QIA, a major investor in India, is seeking to claim Raveendran's assets worth $235.19 million. This action by QIA is an unusual move by an investor, and it comes amid a series of challenges faced by Byju's from investors and debtors. Raveendran's personal assets include a minority stake in Aakash Education Services. The status of personal guarantees offered by Raveendran is unclear.

Related News

Abu Dhabi’s Mubadala overtakes Saudi Arabia’s PIF as world’s top wealth fund spender

Livemint

Livemint · 7m ago

Abu Dhabi’s Mubadala overtakes Saudi Arabia’s PIF as world’s top wealth fund spender

Abu Dhabi's Mubadala Investment Company became the top spender among sovereign wealth funds in 2024, surpassing Saudi Arabia's Public Investment Fund, with an investment of $29.2 billion. The increase reflects a broader Gulf region trend, with Abu Dhabi, Qatar, and Saudi Arabia investing a record $82 billion. Sovereign funds focused significantly on digital infrastructure and AI, marking $27.7 billion in investments. Overall, sovereign wealth assets reached $13 trillion, highlighting their growing global financial impact.

Probe finds Byju’s failed investors but didn’t commit fraud

Economic Times

Economic Times · 1y ago

Probe finds Byju’s failed investors but didn’t commit fraud

India's Ministry of Corporate Affairs has cleared online education company Byju's of financial fraud following a year-long investigation. While no evidence of wrongdoing was found, the probe did discover governance shortcomings that contributed to the company's mounting losses. The investigation came after disgruntled investors accused founder Byju Raveendran of mismanagement. The report does not address personal accountability or Raveendran's qualifications. Byju's, valued at $22bn at its peak, has been dealing with a cash crunch and facing multiple legal battles in India and the US.

QIA to invest $1B in international and regional venture capital funds

TechCrunch · 1y ago

QIA to invest $1B in international and regional venture capital funds

Qatar Investment Authority (QIA), the sovereign wealth fund, is launching a $1 billion venture capital fund of funds for international and regional venture capital funds. The initiative aims to attract VC funds and startups to Qatar and the wider Gulf Cooperation Council region, with a focus on fintech, edtech, and healthcare sectors. QIA plans to invest indirectly through other VC funds and make co-investments with participating funds. The fund aims to bridge the gap with neighboring countries like Saudi Arabia and the UAE and strengthen the startup ecosystem in Qatar.

QIA to invest over $1 bn in VC funds

VCCircle

VCCircle · 1y ago

QIA to invest over $1 bn in VC funds

Qatar Investment Authority (QIA), Qatar's sovereign wealth fund, has announced plans to invest over $1 billion in venture capital funds as part of its strategy to develop the start-up and venture capital sector in Qatar and neighboring countries. The fund, named the "Fund of Funds," aims to attract international venture capital firms and entrepreneurs to Qatar and the Gulf Arab states while also generating market-level commercial returns for QIA. This move highlights QIA's focus on technology investments and its commitment to supporting innovative businesses in the region.

Qatar Investment Authority expands into Australia, Korea and Southeast Asia

VCCircle

VCCircle · 11m ago

Qatar Investment Authority expands into Australia, Korea and Southeast Asia

The Qatar Investment Authority (QIA), a sovereign wealth fund, is expanding its investments into Australia, Korea, and Southeast Asia. The QIA also sees potential investment opportunities in Japan's conglomerates and take-private deals, as well as in the technology sector in India. With $526 billion worth of total assets, the QIA is one of the world's largest investors. The expansion into Asian markets follows QIA's efforts to diversify its investments beyond European and U.S. markets.

Another Setback For Byju Raveendran: NCLAT Judge Recuses Himself From Hearing Plea Challenging Bankruptcy Order

Inc42 · 1y ago

Another Setback For Byju Raveendran: NCLAT Judge Recuses Himself From Hearing Plea Challenging Bankruptcy Order

Justice Sharad Kumar Sharma of the NCLAT has recused himself from hearing Byju Raveendran's plea against the NCLT order for bankruptcy proceedings against BYJU'S. In a recent order, Justice Sharma revealed that he had previously appeared as a senior counsel for the Board of Control For Cricket in India (BCCI), making him unable to take up the case. The case will now be handled by NCLAT chairperson (retd) Ashok Bhushan.

Qatar wealth fund eyeing investment opportunities in China's retail, tech sectors

Economic Times

Economic Times · 1y ago

Qatar wealth fund eyeing investment opportunities in China's retail, tech sectors

Qatar Investment Authority, the sovereign wealth fund of Qatar, is exploring investment opportunities in China's retail, healthcare, tech, and logistics sectors. The fund's unit, Qatar Investment Authority Advisory (Asia Pacific), is considering investments in both public and private companies. This comes as Middle East investors, including those from Saudi Arabia, seek to diversify their economies and reduce dependence on oil. China has emerged as a key partner for such countries, with Gulf buyers announcing a significant increase in acquisitions of Chinese targets compared to previous years.

Singapore sovereign fund GIC bets $70 mn on PE-backed Indian lender

VCCircle

VCCircle · 1y ago

Singapore sovereign fund GIC bets $70 mn on PE-backed Indian lender

Singapore sovereign fund GIC has invested $70 million in an Indian lender backed by private equity. GIC has been actively investing in India and has assets worth over $30 billion in public companies. The sovereign wealth fund has stakes in major banks and has now added a financial services firm to its local portfolio.

Are you ultra-rich, rich or merely affluent? It makes a difference for your bank

Livemint

Livemint · 8m ago

Are you ultra-rich, rich or merely affluent? It makes a difference for your bank

Morgan Stanley has found success in the wealth management sector, with its American wealth business now amounting to $4.6 trillion in client assets. In contrast, UBS's US wealth arm, even after merging with Credit Suisse, only has $2 trillion in client assets. UBS has announced plans to restructure its business and focus on catering to less wealthy individuals. However, serving ultra-high net worth clients is a different proposition than serving the mass affluent. Big banks risk being ill-equipped for the technology race in the mass-affluent market.

Byju files caveat in SC expecting challenge to NCLAT order

Inshorts · 1y ago

Byju files caveat in SC expecting challenge to NCLAT order

BYJU'S CEO Byju Raveendran filed a plea in Supreme Court requesting to be heard before the court decides on a likely plea by US lenders opposing NCLAT's order ending insolvency proceedings against BYJU'S. US lenders had objected to the BYJU'S-BCCI settlement, alleging Byju of using money stolen from them. Byju's brother Riju paid for settlement with BCCI using personal assets.

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