Baron Capital nearly halves Byju’s valuation, marks up Swiggy, Pine Labs

US-based asset management firm Baron Capital Group has nearly halved the fair value of India’s most-valued start-up Byju’s in its books. This happened following the resignations of its auditor and three key investor board members, according to the investor’s June quarter report.

In its April-June quarterly report, Baron Capital cut the valuation of Byju’s to $11.7 billion as of 30 June. This is down 44.6 per cent from $21.2 billion as of 31 March.

Byju’s was last valued at $22 billion when it raised $250 million from Qatar Investment Authority in October last year.