US fund cuts edtech Eruditus’ valuation by 9% to $2.9 billion

The Private Shares Fund, a New York-headquartered firm focusing on investments in late-stage venture-backed private companies, has reduced the valuation of its holding in edtech unicorn Eruditus by about 8.6%.

The markdown has translated to a valuation of about $2.9 billion as of March 31, 2023, a drop from $3.2 billion in August 2021, a price at which the Mumbai-based startup had last raised equity-based capital from investors.

The Private Shares Fund, also an investor in Udemy, plant-based meat developer Impossible Foods, video games developer Epic Games and enterprise software company Automation Anywhere,