The fund, the company said in a release, aims to back China’s next generation of tech entrepreneurs and support the country’s rapid development into a global technology hub, with a strong focus on enterprise tech, fintech and consumer tech.
“The launch of a specialized China technology fund reflects the country’s fast emergence as a global leader in technology, as well as its growing maturity and the opportunities that come with it,” said Eight Roads Ventures Asia Managing Partner Jarlon Tsang.
“There are no borders in technology – it’s a global game and we need to help Chinese entrepreneurs win on a global scale,” he added.
The latest fund follows the launch of a dedicated Eight Roads China healthcare fund in September 2017, and new enlarged funds for Japan, India and Europe.
Eight Roads is one of the region’s earliest venture capital funds. With teams in China, Japan, UK, India and the US, it currently has investments in over 175 portfolio companies with a team of 70 investment professionals, 30 of whom focus on China investments.
In one of its latest investments in the region, Eight Roads participated in a $25-million funding round for Plaid Inc., a Japanese startup that provides real-time web analytics services to e-commerce sites. This came after its participation in a “multimillion-dollar” pre Series A funding round for Singapore-based fintech startup Silot.
Eight Roads has also recently announced its appointment of former Goldman Sachs executive Shweta Bhatia as a partner in its India team.