Eight Roads Ventures: Fidelity's $8B Powerhouse Betting Big on Indian Healthcare

Few investors in India can match the patience and pedigree of Eight Roads Ventures. Founded in 1969 and backed by Fidelity, it is one of the oldest venture investors operating in the country — and one of the most committed. Since beginning its India journey in 2007, the firm has grown its Indian assets under management to $1.6 billion, with a portfolio of nearly 70 companies spanning healthcare and technology.

Globally, the numbers tell the story: the Eight Roads network manages over $8 billion of capital across China, India, Japan, Europe and the US, with more than 350 portfolio companies and over 35 IPOs under its belt. That half-century of investing history means the firm has seen — and survived — multiple market cycles, a steadying hand for founders building through downturns.

Thesis and sectors. Eight Roads invests from early stage through growth, backing technology and healthcare companies with the ambition to become category leaders. In India, its healthcare conviction runs deepest: in May 2022 it launched its first India-dedicated Healthcare and Life Sciences Fund of $250 million — at the time among the largest sector-dedicated pools of capital in the country. That fund targets 15 to 20 companies across life sciences, healthcare services, consumer health and digital health, writing cheques of up to $40 million.

Notable portfolio. The India portfolio reads like a who's who of Indian health and tech: PharmEasy (parent API Holdings), Cipla Health, OZiva, eKincare, Toothsi, Laurus Labs, Doceree and Caplin Steriles in healthcare; MoEngage, Shadowfax, Whatfix, FarEye, BankBazaar, Quizizz, Blissclub, Chai Point, Exponent Energy and Northern Arc across technology, SaaS, logistics and fintech. Globally, the firm's featured stories include AppsFlyer, Icertis and Paidy.

People. The India franchise is led by Dr Prem Pavoor, Senior Partner and Head of India and Healthcare Investments, with Daniel Auerbach, Senior Managing Partner and Head of Global Ventures, overseeing the worldwide platform. Founders get operators who have backed healthcare and technology businesses through public listings — 35-plus IPOs globally is a track record few firms can show.

Programs and perks. Eight Roads does not publicly advertise founder accelerator programmes, demo days or perk bundles — its value-add proposition is the firm's own longevity: a permanent, Fidelity-backed capital base, a global founder network across four continents, and partners who stay with companies from early stage to IPO and beyond. If you are building in Indian healthcare or enterprise tech and want a partner with a genuinely long-term horizon, this is the room to get into.