The investors are requesting a meeting to resolve "outstanding governance, financial mismanagement and compliance issues; the reconstitution of the Board of Directors, so that it is no longer controlled by the founders … and a change in leadership of the company," it added. The statement was shared by Prosus, which has a roughly 9% stake in Byju's, and said it had the backing of a "number of major investors", without naming them. Others supporting the statement include Sofina and Peak XV, formerly known as Sequoia Capital India, according to a source with direct knowledge of the matter.