US-based Private Shares Fund cuts Eruditus' valuation to $2.9 bn

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% in the March quarter, effectively valuing the startup at $2.9 billion. Eruditus was previously valued at $3.2 billion. The Private Shares Fund has a 0.2% stake in Eruditus.