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Eight Roads rolls out fourth European venture fund of $450M to help ambitious founders scale

Global venture capital fund Eight Roads has announced its fourth fund of $450 million for European and Israeli scale-ups. The fund will invest in a further 15 to 20 ambitious companies that have reached product-market-fit, across all technology sectors including consumer, software-as-a-service, fintech and health tech, with an initial cheque size of $5 million to $50 million per company.

At $450 million, this is Eight Roads’ fourth and largest VC fund to date targeted at scale-up founders in Europe. A large proportion of this new fund will go to UK technology founders. The fund’s UK investments till date include Cazoo, Made.com, Treatwell, Mention Me, Smol and Slerp. Since launching its first dedicated European fund over 10 years ago, the VC fund has seen the continent’s ecosystem transform into a leading technology hub with large successes and numerous role models, vibrant communities, and several clusters of global excellence.

Collaborative scale-up specialist

The team in Europe consists of twenty investment professionals who all bring sector expertise, geographical focus, and an entrepreneurial spirit focused on helping European and Israeli founders succeed. The portfolio counts more than 50 companies including market leaders such as AppsFlyer, Cazoo, Fireblocks, Hibob, Made.com, Spendesk, Red Points and Neo4j. The platform has become known as a collaborative scale-up specialist among founders, confirmed by a recent portfolio survey Net Promoter Score of 89.

From go-to-market to talent acquisition

This new fund leverages a wider global platform of Eight Roads and associated funds that now manages over $8 billion of capital across Europe, Asia and the US. First founded over 50 years ago in Boston, the continued successes globally include the likes of Alibaba, Toast, Icertis, Paidy and many others. Its value-add network of over 30 venture partners and experts helps portfolio on a wide range of scale-up areas from go-to-market to talent acquisition.

Supporting next generation of global winners

Davor Hebel, Managing Partner and Head of Eight Roads Ventures Europe said: “It’s great to be launching our latest fund at a time when there is so much entrepreneurial energy and ambition in both Europe and Israel and we’re now firmly on a path to building global technology champions out of the region. This additional capital enables us to continue helping ambitious founders scale, win and have a lasting impact on the way we live.”

Oren Kaniel, CEO & Co-Founder of AppsFlyer said about working with Eight Roads: “Eight Roads backed us when we had just one office, 50 employees, and a big vision. Since then they have worked with us to scale and create a global company with over 1,200 employees and 20 offices across the world – in little over six years. We couldn’t ask for a more supportive partner.”

Alex Chesterman, CEO & Founder of Cazoo, added: “I’ve always had huge respect for the approach of the Eight Roads team, having built a close relationship with them many years before they invested in Cazoo. They’re knowledgeable, experienced investors, with an international network and can help Europeans founders build global game-changing businesses.”