Eight Roads launches $375m third vehicle

The vehicle is considerably larger than its £150m predecessor fund, which was launched in 2015.

It will be invested by Eight Roads' London-based team and will target series-B and series-C stage businesses, though it will also consider smaller-scale investments in companies that have minimal financial backing but have gained market traction. The firm also operates from offices in the US, China, Japan and India.

ERVE III will look to support 15-20 companies, with a particular focus on the enterprise, consumer, fintech and healthcare IT segments, and will write equity cheques of $10-30m.

The VC is aiming to help startups develop their sales and marketing activities, professionalise their management structures and pursue international expansion strategies.

Eight Roads this week took part in a £40m funding round for UK-based online furniture retailer Made.com. Other previous investments include French non-bank-account service Compte Nickel, German online games developer InnoGames and Spanish online secondhand marketplace Wallapop.

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