London-headquartered venture capital firm Eight Roads Ventures, the proprietary investment arm of Fidelity International Ltd., has launched a third $375 million fund for scale-up investments in Europe and Israel, the company announced Tuesday.
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Founded in 2010, Eight Roads has offices in China, Japan, India, the U.K. and the U.S. and has invested nearly $6 billion in more than 20 growth-stage companies worldwide, according to company statements. The venture capital firm was an early investor in Chinese e-commerce company Alibaba Group Holding Ltd.
The new fund will invest in companies based in Europe and in Israel, with a focus on enterprise, consumer, fintech, and healthcare companies, and an average investment of $10-$30 million.
Eight Roads has invested in two Israeli startups to date—human resources company Hi Bob Ltd. and marketing analytics company AppsFlyer Ltd.
Growth stage companies need credible business guidance and experience to help them grow, Davor Hebel, a managing partner and head of Eight Roads Ventures' Europe office said in a statement.