Eight Roads launches new $350m China tech fund


Eight Roads launches the latest dedicated $350m technology fund for China, Eight Roads China Technology Fund V, extending the momentum of capturing China’s growing technology investment opportunities. This is the team's second specialized technology fund and ninth vintage fund backing entrepreneurs in China.


(March 22, 2022, Shanghai) – Eight Roads, the global venture capital firm backed by Fidelity, today announced its latest dedicated technology fund for China, Eight Roads China Technology Fund V, extending the momentum of capturing China’s growing technology investment opportunities. With the new US$350m of capital, Eight Roads is looking to further deepen its focus in core technology areas accompanied by a deep thematic investment approach.


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


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


Daniel Auerbach, Senior Managing Partner and Head of Global Ventures at Eight Roads said: “We are extremely proud of our heritage of over 25 years investing in the technology and healthcare landscape in China with the view of bringing great value and solutions to a variety of unmet needs, consistent with the aspirations and objectives of China as a nation, society, and advanced economy, connected globally. The launch of Eight Roads China Technology Fund V is a hallmark milestone along our committed journey which we look forward to continuing for the many decades to come. China’s advances, innovations, and the entrepreneurs who are pursuing them are world-class. We are thrilled to be part of this ecosystem.”


“We are very grateful to our investor Fidelity for its trust and continued support. The launch of our latest specialized China technology fund, following our new US$400m dedicated healthcare fund last year, shows our belief in the country’s capacity for the long game in technology innovation, development, and adoption;” remarked Jarlon Tsang, Managing Partner and Head of Eight Roads Ventures China: “Eight Roads, with our exceptional team and global network, will continue to bring sectoral knowledge and technology know-how to add value to the companies and founders we partner with.”


“China’s large digital economy is primed for its next stage of technology innovations and ambitions. The palpable shift in entrepreneurial focus to heavier and deeper technology will require greater patience and deeper domain expertise from investors, and this dovetails well with Eight Roads’ strategy and focus areas. We hope this new fund will help us forge new partnerships with aspiring innovators to make a meaningful impact on the way people live and work,” said Ted Chua, Senior Partner of Eight Roads Ventures China.


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