Eight Roads kicks off $350m China tech fund

Fidelity-backed Eight Roads Ventures is launching Eight Roads China Technology Fund V, with US$350 million earmarked for venture and early growth investments on enterprise tech, fintech, and consumer tech players.

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The VC firm said that this is their second specialized technology fund and ninth vintage fund for Chinese businesses. Last year, it launched a US$400 million fund focusing on the healthcare sector.

“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,” said Ted Chua, senior partner at Eight Roads Ventures China.

Eight Roads has invested in more than 300 firms globally, over 130 of which are China-based companies.

Recently, the VC firm led business automation platform Jiffy.ai’s US$53 million series B round and joined self-driving truck firm Inceptio’s US$188 million series B+ raise.

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