Fidelity plans Eight Roads demerger

The firm said in a statement that the move was intended "to better align the goals of the respective businesses with the incentives of their respective employee shareholders." Eight Roads' venture capital program has a significant Asian footprint with offices across China, Japan, India, and Singapore

Eight Roads Ventures claims to have invested $6 billion of surplus cash from its parent company since 2008. It currently employs 55 investment professionals globally. Assets under management are said to amount to about $3.5 billion.

Asia has been of increasing strategic focus for the GP in recent years, with its latest fund launching last year with a $275 million mandate focused on Chinese technology companies. This followed the launch of a China healthcare fund and a second dedicated Japan fund the prior year.

There has also been a recent ramp-up in Southeast Asian activity with the opening of an office in Singapore in September last year and the appointment last month of Dave Ng as head of the region. Ng is an investor in the India team but is based in Singapore.  

Eight Roads has historically positioned its single-LP structure under Fidelity as a key advantage that allows it to focus resources on investment that might otherwise be diverted to fundraising and investor relations. This is also said to provide for improved latitude in deal targeting.

"We've got very good support from our single LP because we're one family," Jarlon Tsang, a managing partner at Eight Roads Ventures Asia, told AVCJ last year. "Because of that, it's much easier for us to be more flexible in our structure and be able to change with the environment much quicker."

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• Topics
• GPs
• LPs
• Asia
• Fidelity
• Eight Roads
• Venture
• Growth capital