Private Shares Fund Cuts Edtech Unicorn Eruditus Valuation By 9%
According to media reports, ethe edtech firm is now valued at USD 2.9 billion, down from its previous valuation of USD 3.2 billion, the fund’s regulatory filings with the Securities and Exchange Commission (SEC) showed
US-based The Private Shares Fund, which invests in late-stage venture capital-backed startups, slashed the fair value of edtech unicorn Eruditus by 9 percent in the March quarter in another instance of an internal markdown of a technology firm by an asset management company.
The Private Shares Fund, which has a 0.2 percent stake in Eruditus, has pegged the fair value of its 36,264 shares at $4.66 million, effectively valuing the edtech at $2.9 billion, down from its previous valuation of $3.2 billion, the fund’s regulatory filings with the Securities and Exchange Commission (SEC) showed. The US-based fund had not marked down the fair value of Eruditus as of December 31, 2022, the filings showed
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