TPG to capitalise the business further, said people aware of discussions.
This follows the company recentlygetting $250 million from existing investors, including Qatar Investment Authority (QIA) and Tiger Global.
Sources close to the company said the latest move is part of a $400-500 million round that the company is looking to raise through convertible instruments. TPG is one of several investors the company is currently engaged with, they said.
The initial rounds of due diligence are ongoing, according to people in the know, and negotiations are expected to pick up momentum in the coming weeks.
TPG may rope in some of its limited partners as co-investors. However, these are early-stage discussions and there is no guarantee this will result in a deal, said the people mentioned above on the condition of anonymity.
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Spokespersons of TPG and Byju’s declined to comment.
