Eight Roads launches its fourth fund: $450M geared toward European/Israeli scale-ups

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European VC Eight Roads is launching its fourth fund of $450 million for European and Israeli tech corporations , aiming for one more 15-20 throughout a broad vary of client, software-as-a-service, fintech and healthtech areas. Cheque sizes wil vary from round $5 million to $50 million per firm, and as such, it tends to play extra in progress funding rounds. 10-year outdated Eight Roads is backed by Constancy, and was previously often known as Constancy Progress Companions and earlier than that Constancy Ventures.

Eight Roads has beforehand invested in corporations similar to AppsFlyer, Cazoo, Fireblocks, Hibob, Made.com, Spendesk, Purple Factors, and Neo4j, and now manages over $8 billion of capital throughout Europe, Asia and the US. 

To provide you an concept of how the fund has grown, the primary Eight Roads fund was 1st was £100m, the second £150m, the primary $375m, and the newest is $450m.

Davor Hebel, Managing Associate and Head of Eight Roads Ventures Europe stated: “It’s nice to be launching our newest fund at a time when there may be a lot entrepreneurial power and ambition in each Europe and Israel and we’re now firmly on a path to constructing international expertise champions out of the area. This extra capital permits us to proceed serving to formidable founders scale, win and have a long-lasting affect on the best way we dwell.”  

I requested the agency whether or not it can even have a local weather focus, given the dimensions of the issues dealing with the planet. A spokeperson stated the concentrate on local weather cuts throughout all of its sectors however as an funding theme Eight Roads seems at three predominant focus areas: 

  • Clear power – so it has an funding in a Nordic firm Tibber which helps folks run their properties extra sustainably.
  • Sustainable merchandise – Eight Roads has invested in Otrium (style market aiming to get each merchandise to be worn), Smol (environmentally pleasant home merchandise), La Fourche (natural and sustainable produce), VIU (eyewear model), and Made.com (on-line furnishings model)
  • Local weather change instruments and enablers – e.g. carbon footprint measurement and discount

Throughout an interview, Hebel instructed me a serious funding theme final 12 months and this had been the shift to distant working, HR programs to assist that, and: “Each firm wants FinTech now.”

The fourth greatest class for Eight Roads is digital well being, additionally supercharged by the pandemic. 

Enabling applied sciences, like AI, are additionally being utilized: “I wouldn’t name it a sector, however the machine studying facet. Like Glovo, which is an organization that does inside expertise marketplaces for big corporations, the place you’ll be able to match folks’s skills with alternatives in different components of the group.”

I requested Hebel if his firm was returning to the workplace. He stated: “I feel we’re nonetheless feeling our manner, you realize. I feel we stated we’ll be two days every week, after which see the way it goes. It’s good to see folks once more.”

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