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Venture capital firm Eight Roads Ventures has reportedly sold its stakes in three startups to private equity firm TR Capital in a $50 Mn (around INR 428 Cr) secondary deal.
A Mint report said that Eight Roads has sold its stakes in customer engagement platform MoEngage, logistics services startup Shadowfax and enterprise tech startup Whatfix.
Inc42 has reached out to MoEngage, Shadowfax, Whatfix and Eight Roads for comments on the development. The story will be updated based on their responses.
Eight Roads made its initial investment in Shadowfax in 2015, Whatfix in 2019 and Moengage in 2020.
Following which, the investor firm partially exited from Shadowfax during its Series E funding round in February 2024.
“Partnering with Eight Roads India showcased that capability: together, we translated a multi-asset opportunity into a win-win transaction for all parties involved. As an acknowledged pioneer of Asia’s secondary market, TR Capital will continue expanding its footprint and collaborating with top-tier partners such as Eight Roads to deliver value from complexity,” the report said citing Frederic Azemard, managing partner at TR Capital.
Eight Roads Ventures is a venture capital firm founded in 1969, and is based out of Mumbai in India. The investment firm, backed by Fidelity, invests in ambitious technology and healthcare founders from across the globe.
(The story will be updated soon.)
The post Eight Roads Sells Stakes In Three Startups In $50 Mn Secondary Deal appeared first on Inc42 Media.
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