Global VC Firm Sets Up $375M Fund To Tap Into Tech Companies in Israel, Europe

March 21, 2018 | Global venture firm Eight Roads Ventures Europe (ERVE) announced that it was setting up a $375 million fund to invest in fast-growing tech companies in Israel and Europe. The fund will look for scale-up companies across enterprise, consumer, fintech, and healthcare IT sectors, the firm said in a statement, adding that this was the third fund of its kind. ERVE said it will seek to back a total of 15 to 20, with an average investment size of $10 million to $30 million. The London-based firm said with Israel already having established itself “as a leader in a number of fast-growing verticals including cybersecurity, fintech, autonomous vehicles, and artificial intelligence, this market stands out for its global ambitions and talented pool of engineers.” Eight Roads said it has been investing in Israeli entrepreneurs for close to a decade, noting companies like AppsFlyer, a global leader in mobile marketing attribution, and Hibob, an emerging leader in human resources for small and medium enterprises. Davor Hebel, Managing Partner and Head of Eight Roads Ventures Europe said: “We find ambitious entrepreneurs across the continent but there is a real lack of credible scale-up advice and business-building experience to help them beat the odds. We will continue to support our entrepreneurs with our global platform and value-add team of operators as they take their companies from 50 to 500 employees and beyond. We are confident that with the right help the European ecosystem can systematically create $10bn+ global tech businesses.”