India, July 1 -- 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.

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