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Lenders Allege Edtech Startup Byju’s Hid $533 Million With Hedge Fund – The Wall Street Journal

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Lenders Allege Edtech Startup Byju’s Hid $533 Million With Hedge Fund – The Wall Street Journal

 

Indian education-technology company Byju’s became a so-called unicorn valued at $1 billion in 2018. Photo: Dhiraj Singh/Bloomberg NewsLenders to Indian education-technology company Byju’s have alleged that it covertly transferred $533 million to a Florida-based hedge fund, adding another dimension to their legal feud with one of India’s most highly valued startups.A lender lawsuit filed in a Miami court last week alleges Byju’s sent $533 million that should have been in its U.S. affiliate’s bank accounts to Camshaft Capital, described as a Miami-area hedge fund, and concealed the whereabouts of that money from the company’s lenders.Copyright ©2023 Dow Jones & Company, Inc. All Rights… 

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