International VC Firm Planning Massive Investment In Israel

Global venture capital firm Eight Roads is planning to invest $500 million in Israeli companies in the coming years, its managing partner Davor Hebel told tech firms in Tel Aviv. 

Hebel is responsible for the VC’s activities in Europe and Israel.

“We have invested hundreds of millions of dollars in recent years, and we plan to invest half a billion dollars in the coming years in Israel,” he said, according to Israeli business outlet CTech. 

Eight Roads has been investing in Israeli startups for more than a decade, among them Hibob, which produces human resources software and which played host to Hebel for the announcement. 

“Israel is a booming country, and we have 10 Israeli companies, with three already generating over $100 million in revenue,” Hebel told CTech. He cited Hibob as an example of Israeli tech success.

“We invested in HiBob in 2017 when the product was in its early stages. Today, it generates revenues of over $100 million and operates in 137 countries worldwide. In just six years, the company has become a global leader, and we aim to find more companies like that,” he said.

Hebel’s announcement comes five years after Eight Roads said it was setting up a $375 million fund to invest in fast-growing tech companies in Israel and Europe.