# Eight Roads Ventures: portfolio, investments and team

> Eight Roads Ventures is a vc firm based in Bermuda. 219 investments on record, 15 in the last 12 months, latest Oct 2026.

Source: https://millionrounds.com/fund/eight-roads (Millionrounds; every figure on the page links to its filing or article)

Bermuda · [Investor](https://millionrounds.com/investors)

# Eight Roads Ventures

Last cheque observed Oct 2026; 219 cheques on record.

Email

Deploying now VC firm

Seed Series A Series B Paytech B-to-c Banking

Follow Eight Roads Ventures and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Feight-roads)

Deploying now

**58%** of best year **15** **cheques in 12 months**, 219 on record

Since the last cheque **3** days **00** hrs **00** min **00** sec

Median round **$25M** Cheque size, as they say **$5.0M – $50M** Rounds led **6 of 219** Sole investor **34 rounds** Exits **1 from the portfolio** Mostly in **United States, 38%**

Pitch Eight Roads Ventures

## Eight Roads Ventures highlights

- 01 15 cheques in the last 12 months
- 02 Mostly Series B and Venture: 56% of its rounds
- 03 Sole investor in 34 rounds, median $13M
- 04 1 exits from the portfolio

## What they do

> Eight Roads has a 50+ year history of investing and partners with game-changing technology and healthcare companies, supporting them as they scale to become global leaders. From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** $5.0M – $50M as they say
- **Stages:** Seed Series A Series B Growth
- **Sectors:** Paytech B-to-c Banking
- **Based in:** London, Bermuda
- **Cold pitches:** Not accepted

## The record

Every round we can evidence, newest first **219 appearances**

- **2026** 10 rounds
- **Oct** **[Easol](https://millionrounds.com/company/easol)** Series A · GB · Digital Music News **$30M** With 6 others
- **Sept** **[Tempest Therapeutics](https://millionrounds.com/company/tempest-therapeutics)** US **$2.5M** With 4 others
- **Sept** **[AvenCell](https://millionrounds.com/company/avencell)** Series C · US **$6.0M** With 1 other
- **Jul** **[Moneybox](https://millionrounds.com/company/moneybox)** Secondary · GB **$60M** With 3 others
- **Apr** **[InsightFinder](https://millionrounds.com/company/insightfinder)** Series B · US · TechCrunch **$15M** With 3 others
- **Feb** **[Coherus Biosciences](https://millionrounds.com/company/coherus-biosciences)** US **$50M** With 3 others
- **Feb** **[OZiva](https://millionrounds.com/company/oziva)** Venture **$91M** With 2 others
- **Jan** **[Funnel](https://millionrounds.com/company/funnel)** Debt · SE **$80M** With 3 others
- **Jan** **[Oviva](https://millionrounds.com/company/oviva)** Series D · CH · Firms' own news pages **$234M** With 9 others
- **Jan** **[AssetPlus](https://millionrounds.com/company/assetplus)** Series B **$19M** With 5 others
- **2025** 25 rounds
- **Dec** **[Denali Therapeutics](https://millionrounds.com/company/denali-therapeutics)** Debt · US **$200M** With 3 others
- **Dec** **[PlasmaGen Biosciences](https://millionrounds.com/company/plasmagen-biosciences)** Venture **$17M** Sole investor
- **Nov** **[TandemAI](https://millionrounds.com/company/tandemai)** Series A **$22M** With 3 others
- **Nov** **[Amenitiz](https://millionrounds.com/company/amenitiz)** Series B · ES **$45M** With 3 others
- **Nov** **[Ruiyun Cold Chain](https://millionrounds.com/company/ruiyun-cold-chain)** Series A **$14M** With 2 others
- **Oct** **[ABK Biomedical](https://millionrounds.com/company/abk-biomedical)** Series D · CA **$35M** With 2 others
- **Oct** **[Jade Bird Display](https://millionrounds.com/company/jade-bird-display)** Series B **$141M** With 3 others
- **Sept** **[La Fourche](https://millionrounds.com/company/la-fourche)** Series C · FR **$37M** With 3 others
- **Aug** **[Changjin Biotechnology](https://millionrounds.com/company/changjin-biotechnology)** Venture **Undisclosed** With 2 others
- **Aug** **[Pony.ai](https://millionrounds.com/company/pony-ai)** Venture · US **$13M** With 4 others
- **Jul** **[Safe Security](https://millionrounds.com/company/safe-security)** Series C · US **$70M** With 3 others
- **Jul** **[Adagene](https://millionrounds.com/company/adagene)** **$25M** With 3 others
- **Jun** **[Conquest Planning](https://millionrounds.com/company/conquest-planning)** Series B · CA **$80M** With 5 others
- **Jun** **[Deep Mirror](https://millionrounds.com/company/deep-mirror)** Venture **Undisclosed** With 1 other
- **Jun** **[Fat Fee](https://millionrounds.com/company/fat-fee)** Series A **$14M** With 1 other
- **Jun** **[Immuneel Therapeutics](https://millionrounds.com/company/immuneel-therapeutics)** Grant **$150K** Sole investor
- **Jun** **[SDP Japan](https://millionrounds.com/company/sdp-japan)** Series D · JP **$31M** With 2 others
- **May** **[BlissClub](https://millionrounds.com/company/blissclub)** Series B **$3.9M** With 2 others
- **Apr** **[Mento](https://millionrounds.com/company/mento)** Series B · JP **$11M** With 3 others
- **Mar** **[Shadowfax Technologies Limited](https://millionrounds.com/company/shadowfax-technologies-limited)** Venture **$3.0M** With 3 others
- **Feb** **[Nanos Medical](https://millionrounds.com/company/nanos-medical)** Venture **$41M** With 1 other
- **Feb** **[New Vision Medical](https://millionrounds.com/company/new-vision-medical)** Venture **Undisclosed** With 2 others
- **Feb** **[Alternative Bio](https://millionrounds.com/company/alternative-bio)** Venture · JP **Undisclosed** With 1 other
- **Jan** **[Swan](https://millionrounds.com/company/swan)** Series B · FR · TechCrunch **$44M** *Led*
- **Jan** **[Beads](https://millionrounds.com/company/beads)** Series A · JP **$6.3M** Sole investor
- **2024** 21 rounds
- **Nov** **[Lighthouse](https://millionrounds.com/company/lighthouse)** Series C · GB · Silicon Canals **$370M** With 5 others
- **Nov** **[Bhanzu](https://millionrounds.com/company/bhanzu)** Series B **$17M** With 2 others
- **Nov** **[Zenflow](https://millionrounds.com/company/zenflow)** Series C · US **$24M** With 3 others
- **Oct** **[Doceree](https://millionrounds.com/company/doceree)** Venture · US **$4.2M** Sole investor
- **Oct** **[Moneybox](https://millionrounds.com/company/moneybox)** Secondary · GB **$81M** With 3 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **5 named**

AP **Allan Pelvang** Director i Form ADV

DV **Driaan Viljoen** Director i Form ADV

JM **James Mclaughlin** Director i Form ADV

MA **Matthew Alan Heath** Director i Form ADV

NW **Neal William Turchiaro** Resigned i Form ADV

We also hold **86** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$4.0B** gross assets of its funds Oct 2026

**4+** funds on file numbered funds in its name

**Exempt** reporting adviser venture or small private funds

- **Legal name:** Eight Roads GP
- **SEC number:** CRD 163009

## What they claim to have backed

From their own portfolio page (on their website)

**12** of 25 we have independently watched raise

[Abkbiomedical](https://millionrounds.com/company/abk-biomedical)[Absolutdata](https://millionrounds.com/company/absolutdata)[Adagene](https://millionrounds.com/company/adagene)[Adaptimmune](https://millionrounds.com/company/adaptimmune)[Akulaku](https://millionrounds.com/company/akulaku)[Amenitiz](https://millionrounds.com/company/amenitiz)[Asobica](https://millionrounds.com/company/asobica)[Avencell](https://millionrounds.com/company/avencell)[Azit](https://millionrounds.com/company/azit)[Bhanzu](https://millionrounds.com/company/bhanzu)[Biopalette](https://millionrounds.com/company/biopalette)[Blissclub](https://millionrounds.com/company/blissclub) Aperza Arborventures Ashishlifescience Bankbazaar Beads-hospice Bicara Binfinity Bioregenmed Goblm Hzyhgkyy Partners Prhk VISIT WEBSITE

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

## Exits from the portfolio

Companies it backed that were later bought or listed **1 in all**

**[Wahanda](https://millionrounds.com/company/wahanda)** Bought by [Recruit Holdings](https://millionrounds.com/fund/recruit-holdings) **$171M** May 2015

An exit counts when it came after the firm's first round in the company. From historical deal records.

## The cheque

Seed Series A Series B

Median round joined **$25M** the round, not its cheque Alone, median **$13M**

Led 6 of 219 rounds **3%**

- **Said size:** $5.0M – $50M
- **Sole investor:** 34 rounds
- **Last cheque:** Oct 2026
- **Exits:** 1 from the portfolio

Rounds by stage said on their site

- Series B said *52*
- Venture *45*
- Series A said *36*
- Series C *29*
- Series D *12*
- Seed said *-*
- Growth said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [F-Prime Capital](https://millionrounds.com/fund/f-prime) 16
- [Mizuho Capital](https://millionrounds.com/fund/mizuho-capital) 11
- [Fidelity](https://millionrounds.com/fund/fidelity) 10
- [Accel](https://millionrounds.com/fund/accel) 9
- [Fidelity Growth Partners Europe](https://millionrounds.com/fund/fidelity-growth-partners-europe) 9
- [SMBC Venture Capital](https://millionrounds.com/fund/smbc-venture-capital-2) 9

**Pitching Eight Roads Ventures?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Eight Roads Ventures. A count of rooms they were both in, not a relationship either has claimed.

[**F-Prime Capital** VC firm **16** rounds together](https://millionrounds.com/fund/f-prime)[**Mizuho Capital** VC firm **11** rounds together](https://millionrounds.com/fund/mizuho-capital)[**Fidelity** VC firm **10** rounds together](https://millionrounds.com/fund/fidelity)[**Accel** VC firm **9** rounds together](https://millionrounds.com/fund/accel)[**Fidelity Growth Partners Europe** Growth equity **9** rounds together](https://millionrounds.com/fund/fidelity-growth-partners-europe)[**SMBC Venture Capital** Investment bank **9** rounds together](https://millionrounds.com/fund/smbc-venture-capital-2)[**InnoVen Capital** Venture debt **6** rounds together](https://millionrounds.com/fund/innoven-capital-india)[**Qiming Venture Partners** VC firm **6** rounds together](https://millionrounds.com/fund/qiming-venture-partners)[**Creandum** VC firm **5** rounds together](https://millionrounds.com/fund/creandum)[**General Catalyst** VC firm **5** rounds together](https://millionrounds.com/fund/general-catalyst)[**HSG** VC firm **5** rounds together](https://millionrounds.com/fund/hsg)[**SBI Investment** VC firm **5** rounds together](https://millionrounds.com/fund/sbi-investment)

## Recently backed

The latest companies Eight Roads Ventures put money into.

[**Easol** $30M · Oct 2026](https://millionrounds.com/company/easol)[**Tempest Therapeutics** $2.5M · Sept 2026](https://millionrounds.com/company/tempest-therapeutics)[**AvenCell** $6.0M · Sept 2026](https://millionrounds.com/company/avencell)[**Moneybox** $60M · Jul 2026](https://millionrounds.com/company/moneybox)[**InsightFinder** $15M · Apr 2026](https://millionrounds.com/company/insightfinder)[**Coherus Biosciences** $50M · Feb 2026](https://millionrounds.com/company/coherus-biosciences)

## On podcasts

1 episode naming Eight Roads Ventures in the title.

- [This Much I Know](https://millionrounds.com/podcasts/this-much-i-know) 1 Feb 2017 · 47 min Davor Hebel, Managing Partner at Eight Roads Ventures, on entrepreneurial ambition & scaling up With [Davor Hebel](https://millionrounds.com/person/davor-hebel) Mentions [Eight Roads Ventures](https://millionrounds.com/fund/eight-roads)[Carnegie Mellon University](https://millionrounds.com/fund/carnegie-mellon-university) Apple PodcastsShow page

## Quick answers about Eight Roads Ventures

### What does Eight Roads Ventures invest in?

Eight Roads Ventures invests most often at Series B and Venture (56% of the rounds on record), in sectors such as Paytech, B-to-c and Banking.

### How active is Eight Roads Ventures?

219 investments on record, 15 of them in the last 12 months, and it led 6. The most recent was in Oct 2026.

### What has Eight Roads Ventures invested in recently?

Its most recent investments on record: Easol (Series A, Oct 2026), Tempest Therapeutics (Undisclosed round, Sept 2026) and AvenCell (Series C, Sept 2026).

### How big are Eight Roads Ventures's cheques?

The median round it joins is $25M. It says it writes cheques of $5.0M to $50M.

### Does Eight Roads Ventures lead rounds?

Sometimes: it led 6 of its 219 investments on record (3%).

### Where does Eight Roads Ventures invest?

Most of the companies it backs are in the United States (38%), the United Kingdom (17%) and Japan (17%).

### Is Eight Roads Ventures investing now?

Yes: it is actively investing, with 15 investments in the last 12 months.

### Who does Eight Roads Ventures invest alongside?

Most often F-Prime Capital (16 rounds together), Mizuho Capital (11 rounds together) and Fidelity (10 rounds together).

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