The London-based venture capital firm Eight Roads Ventures today announced its third fund for growth stage startups in Europe and Israel. According to Eight Roads, the larger $375 million fund reflects the increasing number of growth stage companies looking for investment.
ERVE III will provide funding for fast-growing technology companies across enterprise, consumer, fintech and healthcare IT sectors. The Eight Roads team will work to fill the resource gap which exists for many growth stage technology companies in Europe, and continue to help founders with key priorities from building out sales and marketing to geographic expansion. They will look for scale-up companies across Europe and Israel, backing a total of 15 to 20, with an average investment size of $10 million to $30 million.
Davor Hebel, Managing Partner and Head of Eight Roads Ventures Europe said: “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. 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 $10bn+ global tech businesses.”
Since launching its first standalone European fund in 2010, Eight Roads Ventures has backed over 20 companies including AppsFlyer, Compte Nickel, InnoGames, Made.com, Neo4j, Treatwell and Wallapop. Globally, Eight Roads Ventures has an extensive network of investors and operators in offices across China, Japan, India, the UK and the US and a near 50-year history of investing in global success stories such as Alibaba, Nuance Communications and Xoom.