Eight Roads Ventures names Dave Ng as Southeast Asia head

Dave Ng

Eight Roads Ventures, the proprietary investment arm of Fidelity International, has named Dave Ng, former B Capital venture partner, as the firm’s Southeast Asia head, based in Singapore.

The venture capital firm opened its first office in the region in Singapore in September 2018, adding to a global presence spanning India, Japan, China, the US, and Europe.

In a statement, Eight Roads Ventures said Ng’s appointment, which was effective immediately, will boost the firm’s efforts in the region to back entrepreneurs of early-growth and growth-stage businesses.

Prior to joining Eight Roads Ventures, Ng was venture partner at B Capital, a venture capital firm that counts Facebook co-founder Eduardo Saverin as a founding partner. He was also a director at Oracle in the US and had worked as management consultant at the Boston Consulting Group.

Ng will join the Eight Roads Ventures India investment team, which has invested in over 30 fast-growing businesses in India and Southeast Asia, Akulaku, BankBazaar, Chai Point, Cipla Health, Eywa, Icertis, Laurus Labs, Manthan Systems, Netmagic, Northern Arc Capital, Shadowfax, and Silot.

“His experience and network in the region will be invaluable given both the breadth and reach of our existing investments, and our ambition to develop into new areas of interest,” said Eight Roads Ventures managing partner for Asia Raj Dugar.

Eight Roads has over 300 portfolio companies globally, with about $1.5 billion in assets under management in Southeast Asia and India alone.

With a ramped up Southeast Asia presence, it plans to target investments in consumer tech, deep tech, and healthcare in Singapore, Indonesia and Vietnam. These sectors, Dugar said, require patient capital, which is a strong suit for the global venture firm.

Eight Roads Ventures has raised a total of $1.5 billion across six funds, its latest being Technology Fund for China, which secured $275 million. In September, Dugar told this portal that the firm sees the potential for a $200-million fund focused on Southeast Asia.

“It’s hard to put a number down, but it will probably be something similar to some of the funds we have for other geographies. It really depends on the opportunities available in the region,” Dugar told DEALSTREETASIA in an earlier interview.

Also Read:

Eight Roads Ventures launches $275m China tech fund

Eight Roads opens first SEA office in SG, sees opportunity for $200m fund

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.