Eight Roads Ventures sets up $375m fund for Israeli, European startups

Venture capital firm looks to provide funding for fast-growing tech companies, help them scale up and ‘beat the odds’

Shoshanna Solomon was The Times of Israel's Startups and Business reporter

Eight Roads Ventures European Team (Courtesy)
Eight Roads Ventures European Team (Courtesy)

Global venture capital firm Eight Roads Ventures said on Tuesday it has closed a $375 million fund to invest in late-stage technology companies looking to grow.

The idea is to identify some 15 to 20 growth companies in Europe and Israel, and arm them with an investment of some $10 million to $30 million, the firm said in a statement.

“With Israel establishing itself as a leader in a number of fast-growing verticals including cybersecurity, fintech, autonomous vehicles and artificial intelligence, this market stands out for its global ambitions and talented pool of engineers,” the statement said.

Eight Roads has been investing in Israeli entrepreneurs for close to a decade, including in companies like AppsFlyer, a Herzliya-based mobile marketing platform, and Hibob, a cloud-based human resources platform for small and medium enterprises.

“We find ambitious entrepreneurs across the continent but there is a real lack of credible scale-up advice and business-building experience to help them beat the odds,” said Davor Hebel, Managing Partner and Head of Eight Roads Ventures Europe. “We will continue to support our entrepreneurs with our global platform and value-add team of operators as they take their companies from 50 to 500 employees and beyond. We are confident that with the right help the European ecosystem can systematically create $10 billion-plus global tech businesses.”

Since launching its first standalone European fund in 2010, Eight Roads Ventures has backed over 20 companies including Compte Nickel, InnoGames, Made.com, Neo4j, Treatwell and Wallapop.

Globally, Eight Roads Ventures has a network of investors and operators in offices across China, Japan, India, the UK and the US. Its global investment success stories include Alibaba, Nuance Communications and Xoom, the statement said.

Most Popular
read more: