Qatar Investment Authority (QIA) has moved the Karnataka High Court in India to prevent the founder of ed-tech startup Byju’s from selling, pledging or transferring his assets, according to a report in Mint, an Indian financial daily.

The sovereign fund has also sought the disclosure of Raveendran’s personal assets amid the startup’s insolvency, the report said.

Raveendran’s personal assets are estimated at nearly $235 million, the newspaper reported, citing a court filing.

The sovereign fund led a $150 million investment in Byju’s in July 2019. In 2022, QIA loaned $250 million to Raveendran against his shares in Think & Learn Private Ltd, which he invested in the edtech business at a valuation of $22 billion, Mint said.

While Raveendran’s assets are not fully known, the report said he personally owns a minority stake in Aakash Education Services, the test prep unit of Byju’s group. 

(Editing by Brinda Darasha; brinda.darasha@lseg.com)