Shadowfax to raise $75-$100 million

5 Sep 2022 , 10:16 AM

Hyperlocal logistics startup Shadowfax is in discussions to raise $75—100 million in a mix of primary and secondary finance.

The Mumbai-based investment fund A91 Partners is in talks to finance the main component. On the condition of anonymity because the discussions are secret, they added that the deal is presently in the due diligence phase.

The early supporter of Shadowfax, Eight Roads Ventures, which is supported by Fidelity, is anticipated to sell a portion of its holdings in the secondary share sale.

NewQuest Capital Partners, a fund that specializes in purchasing secondary holdings, and the Canada Pension Plan Investment Board (CPPIB)

If the purchase goes through, Bengaluru-based Shadowfax, which is backed by domestic ecommerce powerhouse Flipkart, will likely be valued at $350-$400 million.

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