Edtech firm BYJU’s is being accused of financial misconduct by US-based fund manager Davidson Kempner Capital Management, reported The Morning Context on Monday. While Indian vaccine maker Biological E is in talks with General Atlantic, TA Associates and others to raise up to $250 million, according to VCCircle.

BYJU’s accused of financial misconduct

Edtech firm BYJU’s is being accused of financial misconduct by US-based fund manager Davidson Kempner Capital Management, reported The Morning Context on Monday.

The fund manager has taken control of Aakash Education Services, which is one of BYJU’s best-performing companies, according to the report.

Davidson Kempner had invested $250 million in BYJU’s in May this year and was in talks to close another $750 million. The edtech company earned a $22 billion valuation in March 2022 when it raised $800 million in a round led by its founder and CEO Byju Raveendran.

BYJU is also backed by investors like the Chan-Zuckerberg Initiative, Naspers, CPPIB, General Atlantic, Tencent and Sequoia Capital.

Biological E in talks to raise up to $250m

Vaccine maker Biological E is in talks to raise up to $250 million from General Atlantic, TA Associates and others, according to VCCircle.

The company is looking to sell a minority stake to the private equity firms to repay debt and to sell its vaccine unit, VCCircle reported on Monday.

Founded and led by Dr DVK Raju, Biological E commenced its operations in 1953 as a biological products company manufacturing liver extracts and anti-coagulants. It started large-scale production of DPT vaccines as early as 1962.

Seven of the company’s vaccines, including liquid pentavalent vaccine, Japanese encephalitis vaccine, and Measles-Rubella vaccine, are World Health Organisation (WHO) pre-qualified.