Eight Roads builds out China team

The VC firm said that it has continued to grow its China presence over the past 12 months despite market volatility. It set up its second China-focused fund in March last year with a corpus of USD 350m.

The three new partners are Shawn Shen, Cody Yin, and Gordon Zhang, who focus on deep tech, digital health, and financial technology, respectively. All three joined in 2014.

"The three of them have proven themselves as trusted partners to entrepreneurs and make great contributions to our portfolio companies and the firm's development," Jarlon Tsang, Eight Roads' head of China, said in a statement.

Shen currently leads investments in artificial intelligence (AI) and deep tech. He also covers virtual reality, augmented reality, autonomous driving, metaverse and web3. 

Yin is responsible for digital health, concentrating on themes such as payor upgrade and digital specialty care. His investments in the sector include MediTrust, FCB Health, EB Tech, Gyenno, Haici, Zeen Health, Pharbers, and NeuroSmart.

Zhang focuses on fintech, software, smart manufacturing and blockchain. He led the team that developed Eight Roads' investment theses around renminbi internationalisation, asset management, taxing, accounting and invoicing, insurance tech, payment and lending.

Eight Roads, formerly known as Fidelity Growth Partners, spun out from Fidelity in 2019. It has invested in more than 130 companies in China, including Alibaba Group, 3D digital data company DeepMirror, enterprise expense management software player Fenbeitong, autonomous-driving player Inceptio, and data analytics start-up Kyligence.

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