Eight Roads launches latest US$350 million dedicated technology fund for China

SHANGHAI, March 21, 2022 /PRNewswire/ — Eight Roads, the global venture capital firm backed by Fidelity, today announced its latest dedicated technology fund for ChinaEight Roads China Technology Fund V, extending the momentum of capture China growing opportunities for investment in technology. With the new $350 million of capital, Eight Roads seeks to further deepen its concentration in core technology areas accompanied by a deep thematic investment approach.

The fund will primarily make venture capital and early growth investments in innovative technologies, with a focus on enterprise technologies, financial technologies and consumer technologies.

Since its first investment in China in the 1990s, Eight Roads evolved with the development of the technology industry in China and remains committed to supporting Chinese entrepreneurs for develop the next generation of global technology companies through its deep domain expertise and unrivaled global network.

Daniel AuerbachSenior Managing Partner and Head of Global Ventures at Eight Roads, said, “We are extremely proud of our legacy of over 25 years of investing in the technology and healthcare landscape in China with the goal of providing great value and solutions to a variety of unmet needs, in line with the aspirations and goals of China as an advanced, globally connected nation, society and economy. The launch of Eight Roads China Technology Fund V is an important milestone on our committed journey that we look forward to continuing for many decades to come. China the advancements, innovations and the entrepreneurs who pursue them are world-class. We are delighted to be part of this ecosystem.”

“We are very grateful to our investor Fidelity for their trust and continued support. The launch of our latest China technology fund, following our new $400 million fund dedicated to health care last year, shows our confidence in the country’s ability to play long-term in innovation, development and adoption of technologiesremark Jarlon TsangManaging Partner and Head of Eight Roads Ventures China: “Eight Roads, with our exceptional team and global network, will continue to bring industry knowledge and technology know-how to add value to the companies and founders we work with. are working.”

China The great digital economy is ready for its next stage of technological innovations and ambitions. The palpable shift in entrepreneurial focus towards heavier, deeper technology will require greater patience and deep domain expertise from investors, which aligns well with Eight Roads’ strategy and focus areas. . We hope this new fund will help us forge new partnerships with budding innovators to have a meaningful impact on the way people live and work,” said Ted Chualead partner of Eight Roads Ventures China.

Eight Roads has supported over 130 businesses in China including Alibaba, DeepMirror, EyeBright, FenBeiTong, Inceptio, Innovusion, Innovent, Kyligence, Medbanks, MediTrust, Pingpong, Pony.ai, Yingmi, and Yo-I, many of which have completed an initial public offering (IPO) and become unicorns . Globally, the Eight Roads platform has backed over 300 companies, including AppsFlyer, Cazoo, Icertis, Made.com, Neo4j, Paidy, Shadowfax, and Spendesk, to name a few.

About eight roads

Eight Roads is a Fidelity-backed global venture capital firm that manages over $8 billion assets in the offices of China, India, Japan, Europe and the United States. The flexible nature of our capital means we can support and build innovative companies that seek to disrupt or lead the markets of their choice. Investing in healthcare and technology for more than 50 years, Eight Roads has partnered with more than 300 groundbreaking, fast-growing companies around the world.

Eight Roads has over 25 years of venture capital experience in China and has supported more than 130 companies in the country’s health and technology sectors such as Alibaba, Adagene, Asia Info, BangEr, Eyebright, FenBeiTong, Innovent, Innovusion, Kyligence, Medbanks, MediTrust, PingPong, Pony.ai , WuXi Apptec, etc. www.eightroads.com

SOURCE Eight Roads

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