Eight Roads

Eight Roads is perhaps best known as the investment arm of Fidelity International, and its roots trace back to the late 1960s when Fidelity Ventures made early bets on companies like Atari and MCI. Today, Eight Roads commands an $11 billion global venture platform, headquartered in London but firmly anchored across Europe, the US, China, India, and Japan.

For UK founders eyeing growth-stage funding, Eight Roads offers more than capital—it represents a conduit to international expansion. Its approach is straightforward yet ambitious: invest in businesses that have already found their feet and are ready to scale globally, especially in technology and healthcare. The fund typically enters around Series A or B, with investment rounds averaging in the tens of millions, ensuring each bet is significant and strategically placed.

Their global portfolio makes for an impressive roll-call of tech’s notable disruptors. In China, they famously took an early stake in Alibaba, holding their shares long past the company’s blockbuster IPO. In Europe and the UK, Swan, Made.com, and Spendesk are among the better-known names they've backed. This diverse portfolio underscores their dual-domain expertise: enterprise software, fintech, consumer tech, biotech, and digital health.

Eight Roads’ value proposition is deeply tied to Fidelity’s patient capital and extensive global network. Unlike typical VC funds, pressured to deliver quick returns to external investors, Eight Roads invests from Fidelity's own balance sheet. Founders can expect an investor who’s prepared to stick around, supporting businesses through multiple funding cycles rather than seeking immediate exits. Ronni Zehavi, CEO of HR-tech unicorn HiBob, states, "We are pleased that our investors understand the great need in this market."

Despite its considerable size, Eight Roads remains intentionally selective, building a relatively focused portfolio that allows deeper, long-term engagement. For the founders it backs, Eight Roads doesn’t just write cheques—it offers extensive in-house expertise, and routinely connects startups to growth opportunities across its global network. Their thorough due diligence reflects a commitment to picking companies carefully and then actively nurturing their growth rather than passive monitoring.

However, founders hoping to secure backing should note that while Eight Roads has backed several earlier stage startups, they typically come in after early product-market fit is established. Startups at the idea or pre-seed stage are less likely to pique their interest unless extraordinary potential is evident early on. Instead, the fund is best suited for entrepreneurs already demonstrating solid commercial traction and ready to step onto a larger, often international stage.

For UK entrepreneurs ready to scale globally, Eight Roads presents a compelling proposition: a partner with deep pockets, global connections, and a patient approach. While their criteria may be stringent, those who secure their backing often find the support pivotal—helping them transform promising UK ventures into global market leaders.

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