On 30 September 2019, we completed our demerger from Fidelity International Limited (FIL). We wanted to share some background on what’s changed:
Following receipt of all required approvals, the board and shareholders of FIL Limited have voted to approve the demerger of Eight Roads from FIL Limited. After 20-years of investing in some of the world’s most exciting tech and healthcare businesses as part of FIL Limited, it’s time for Eight Roads to stand on its own two feet with a distinct legal structure and business.
What’s the rationale?
Historically, FIL Limited was made up of two businesses: a traditional financial services company, Fidelity International, serving external clients with a mixture of in-house and third-party funds, investment solutions and platform services; and Eight Roads, a global proprietary investment company backing fast-growing tech and healthcare businesses. In recent years, as each business has grown in size and scope, the differences between each have been highlighted. The demerger promises to align management to the performance of their respective business, while maintaining strong lines of collaboration.
Over the years, Eight Roads has established itself as global investment organisation with eight offices and over 250 portfolio companies. This new structure gives us the freedom to develop further and navigate at our own speed, while continuing to work as part of the Fidelity network of companies.
Will Eight Roads start accepting funds from third parties?
No, we don’t have any plans to start fundraising from third parties and continue to have the full support and financial backing of the Fidelity network.
Will this change Eight Roads’ investment strategy or team?
Our Real Estate activities will remain with Fidelity International but our core investment strategies across Ventures and Principal Investments are unchanged, as is our global team.
What’s next for Eight Roads?
We will continue to operate as part of the broader Fidelity network, partnering with some of the world’s most inspiring founders to build the next generation of technology and healthcare companies.