Fidelity International’s investment arm, Eight Roads, has announced the opening of its Singapore office as part of a longer-term drive to expand in South-East Asia.
The Singapore team, to be led by Raj Dugar, managing partner for Asia, will focus on making early-growth and growth stage investments of up to $30m, and in the growth areas of technology, healthcare, consumer and financial services companies.
Raj Dugar, who is relocating to Singapore from India, where he established the India team, said: “South-East Asia has several early-stage and late-stage funds that cater well to the start-ups and more mature companies. The growth-stage companies, looking at raising Series B/C/D rounds have had limited access to capital given the lack of global funds operating in the region.”
“We see phenomenal opportunity in this segment, and look forward to helping entrepreneurs as they scale their business, providing access to our global network of expertise and contacts,” Dugar explained.
Cyrus Jilla, Eight Roads’ president, added: “We see enormous potential from continued economic development and innovative company formation in the region. The opening of an office in Singapore formalises Eight Roads’ commitment to bring the power of our unrivalled global investing network and breadth of capabilities to support founders as they build their businesses within and beyond the region.”