Samvad Partners advises Eight Roads Ventures on secondary sale in MoEngage, Whatfix, and Shadowfax

Samvad Partners advised Eight Roads Ventures on the partial secondary sale of its shareholding in MoEngage, Whatfix, and Shadowfax to TR Capital Group, a leading investor in secondary transactions across Asia. The sale, valued at over USD 50 million, involved the transfer of stakes across all three companies as part of a single, consolidated transaction.

MoEngage is a customer engagement platform enabling brands to drive personalised digital communication. Whatfix offers enterprise software solutions that enhance digital adoption and user experience. Shadowfax provides technology-enabled logistics services to businesses across sectors in India.

The transaction reflects the growing depth of India’s private capital markets and required careful alignment across multiple companies and stakeholders within a unified deal structure.

The Samvad team comprised Junaira Rahman (Partner), Pratik Patnaik (Partner), Akhairaj Singh (Senior Associate), and Akash Arya (Associate).