Eight Roads Ventures

Eight Roads Ventures is a global venture capital firm and the proprietary investment arm of Fidelity International Limited (FIL). It targets technology-enabled companies across stages from early venture to growth and late-stage, with a focus on healthcare IT, information technology, software and services, fintech, consumer and enterprise technology, telecommunications, and related sectors. It operates internationally with offices in Europe (London) and Asia (Beijing, Shanghai, Hong Kong, Tokyo, Mumbai, Bengaluru) and partnerships in Israel, Singapore, and the United States, reflecting a broad geographic scope. It typically invests between modest seven-figures to tens of millions of dollars, seeks to lead or co-lead and often takes a board seat, supporting portfolio companies with strategic and operational expertise. The firm emphasizes long-standing partnerships and a hands-on approach, backed by FIL’s resources.

Umang Agarwal

Principal

Hiroki Ashida

Vice President

Daniel Auerbach

Senior Managing Partner, Asia

Vytautas Balsys

Partner

Helena Barman

Investor

Past deals in Tokyo

Salowin

Series D in 2025
Salowin Inc., established in 2019 and headquartered in Tokyo, Japan, operates a unique business model within the beauty industry. The company provides a share salon concept for beauticians, offering private rooms equipped with well-maintained facilities. Salowin supports its tenants through services such as prepayment systems for sales and comprehensive support, enabling beauticians to focus on their craft while benefiting from shared resources and increased income potential.

OpenLogi

Series D in 2024
Founded in Tokyo in 2013 by Hidetsugu Ito, OpenLogi designs a cloud-based platform offering affordable outsourced logistics solutions for small and medium-sized enterprises (SMEs) and freelancers. The platform optimizes warehouse control systems, leveraging unused assets and downtime to facilitate efficient logistics operations.

OVice

Series A in 2021
oVice, Inc. is a Tokyo-based company that specializes in creating virtual spaces for remote communication through its innovative platform. Founded in 2020, oVice enables users to engage in voice-centric interactions as avatars, fostering a more lifelike online collaboration experience. The platform emphasizes customization, allowing users to alter layouts, create lockable rooms, and add static objects, making it suitable for various uses such as remote offices, event venues, and academic conferences. The company was established by Sae Hyung Jung, who aimed to enhance connectivity among teams during the COVID pandemic. By providing a solution that enables clear and natural voice communication, oVice facilitates seamless networking and collaboration regardless of geographical distances.

AppsFlyer

Series D in 2020
AppsFlyer Ltd. is a mobile app measurement platform founded in 2011 and headquartered in Herzliya, Israel, with additional offices worldwide. The company specializes in helping mobile app developers, brands, and advertising agencies measure and optimize their customer acquisition strategies through a real-time analytics dashboard. Its platform integrates with numerous media partners, allowing advertisers to assess and enhance their mobile app promotional campaigns across various channels, including paid, organic, and social media. AppsFlyer offers several key solutions, such as Ad Revenue Attribution, which aids mobile publishers in evaluating user lifetime value by considering diverse revenue sources. The company also provides Agency Transparency for brands to gain insights into their campaigns and Protect360, a robust fraud protection service. With a focus on privacy and user experience, AppsFlyer supports a wide array of applications across platforms like the Apple App Store and Google Play, enabling clients to foster meaningful customer relationships through advanced data analytics and engagement tools.

Paidy

Series C in 2019
Paidy is a Japanese fintech company that offers a cardless real-time payment network. It enables consumers to buy online without a credit card or pre-registration, optimizing for mobile and instant-checkout. Paidy's platform uses proprietary technology to score creditworthiness, underwrite transactions, and guarantee payment to merchants.

FLOSFIA

Venture Round in 2019
FLOSFIA INC. is a Tokyo-based company that focuses on the development of corundum structured Gallium Oxide semiconductor power devices. Founded on March 31, 2011, the company emerged as a spin-off from research conducted at Kyoto University. FLOSFIA specializes in film-formation using mist chemical vapor deposition (CVD) techniques, leveraging the unique physical properties of gallium oxide (Ga2O3) to create high breakdown voltage and high efficiency power devices. The firm is dedicated to advancing low-loss power device technology, contributing to the evolution of semiconductor applications.

Yappli

Series C in 2019
Yappli is a Tokyo-based B2B SaaS company offering an online platform to build, manage, and analyze enterprise-grade native mobile applications without coding skills. It serves notable clients such as The North Face and Cartoon Network, and has won awards like the AWS award at Tech in Asia Tokyo 2015.

Payke

Venture Round in 2018
Founded in 2014, Payke develops a cloud-based solution that enables users to access product information in their native language by scanning barcodes. It serves individuals and businesses worldwide, aiming to create a global product database accessible anytime, anywhere.

Azit

Venture Round in 2018
Azit Inc. is a Tokyo-based software application developer, founded in 2013, that focuses on enhancing mobility solutions. The company has created CREW, a car-sharing application that enables users to summon nearby vehicles using their smartphones. This innovative platform aims to improve transportation efficiency for individuals in Japan. In addition to CREW, Azit also offers Tribu, a people-to-people sampling platform, further diversifying its product offerings. Through these applications, Azit seeks to address the growing demand for flexible mobility options in urban environments.

Plaid

Venture Round in 2018
Plaid, Inc. is a Tokyo-based company that develops and operates KARTE, a cloud-based customer experience platform designed to enhance customer interactions on websites and applications. Founded in 2011, the platform analyzes user behavior to facilitate personalized communication with customers. In addition to its primary offering, Plaid engages in the planning and management of specialized media, including EC-focused media called Shopping Tribe and customer experience-oriented media known as XD. The company's services cater to a diverse range of industries, including finance, insurance, human resources, retail, real estate, IT, media, travel, manufacturing, healthcare, and education. By leveraging data analysis, Plaid aims to optimize customer engagement and streamline communication strategies for its clients.

PORT

Venture Round in 2018
Port Inc. is a Tokyo-based company that specializes in various domain-specific vertical media and content marketing tailored to user needs in Japan. Founded in 2011, it operates financial information platforms that facilitate money management through services focused on increasing, borrowing, and saving. Additionally, Port offers a career information platform that connects users with employment opportunities and recruiting companies, enhancing career transition and job matching. The company also provides an online healthcare platform aimed at improving lifestyle habits, supervised by medical professionals, as well as a medical information site addressing lifestyle diseases for individuals and enterprises. Formerly known as Social Recruiting Co., Ltd., Port Inc. rebranded in 2015 to reflect its broader service offerings in internet media and technology across the fields of career, finance, and healthcare.

FLOSFIA

Venture Round in 2018
FLOSFIA INC. is a Tokyo-based company that focuses on the development of corundum structured Gallium Oxide semiconductor power devices. Founded on March 31, 2011, the company emerged as a spin-off from research conducted at Kyoto University. FLOSFIA specializes in film-formation using mist chemical vapor deposition (CVD) techniques, leveraging the unique physical properties of gallium oxide (Ga2O3) to create high breakdown voltage and high efficiency power devices. The firm is dedicated to advancing low-loss power device technology, contributing to the evolution of semiconductor applications.

Candee

Series B in 2017
Candee Inc. is a Tokyo-based production company founded in 2015 that specializes in online video production and talent management. The company provides a range of services, including advertising, video editing, branding, content creation, public relations, and digital marketing. Through its online platform, Candee produces advertising and media videos, focusing particularly on mobile content, which allows businesses to effectively advertise and manage talent in the digital space.

FLOSFIA

Venture Round in 2017
FLOSFIA INC. is a Tokyo-based company that focuses on the development of corundum structured Gallium Oxide semiconductor power devices. Founded on March 31, 2011, the company emerged as a spin-off from research conducted at Kyoto University. FLOSFIA specializes in film-formation using mist chemical vapor deposition (CVD) techniques, leveraging the unique physical properties of gallium oxide (Ga2O3) to create high breakdown voltage and high efficiency power devices. The firm is dedicated to advancing low-loss power device technology, contributing to the evolution of semiconductor applications.

Paidy

Venture Round in 2017
Paidy is a Japanese fintech company that offers a cardless real-time payment network. It enables consumers to buy online without a credit card or pre-registration, optimizing for mobile and instant-checkout. Paidy's platform uses proprietary technology to score creditworthiness, underwrite transactions, and guarantee payment to merchants.

OpenLogi

Series B in 2017
Founded in Tokyo in 2013 by Hidetsugu Ito, OpenLogi designs a cloud-based platform offering affordable outsourced logistics solutions for small and medium-sized enterprises (SMEs) and freelancers. The platform optimizes warehouse control systems, leveraging unused assets and downtime to facilitate efficient logistics operations.

FLOSFIA

Venture Round in 2017
FLOSFIA INC. is a Tokyo-based company that focuses on the development of corundum structured Gallium Oxide semiconductor power devices. Founded on March 31, 2011, the company emerged as a spin-off from research conducted at Kyoto University. FLOSFIA specializes in film-formation using mist chemical vapor deposition (CVD) techniques, leveraging the unique physical properties of gallium oxide (Ga2O3) to create high breakdown voltage and high efficiency power devices. The firm is dedicated to advancing low-loss power device technology, contributing to the evolution of semiconductor applications.

AppsFlyer

Series C in 2017
AppsFlyer Ltd. is a mobile app measurement platform founded in 2011 and headquartered in Herzliya, Israel, with additional offices worldwide. The company specializes in helping mobile app developers, brands, and advertising agencies measure and optimize their customer acquisition strategies through a real-time analytics dashboard. Its platform integrates with numerous media partners, allowing advertisers to assess and enhance their mobile app promotional campaigns across various channels, including paid, organic, and social media. AppsFlyer offers several key solutions, such as Ad Revenue Attribution, which aids mobile publishers in evaluating user lifetime value by considering diverse revenue sources. The company also provides Agency Transparency for brands to gain insights into their campaigns and Protect360, a robust fraud protection service. With a focus on privacy and user experience, AppsFlyer supports a wide array of applications across platforms like the Apple App Store and Google Play, enabling clients to foster meaningful customer relationships through advanced data analytics and engagement tools.

Accounting SaaS Japan

Series C in 2016
Accounting SaaS Japan Co., Ltd., established in Tokyo, specializes in developing cloud-based accounting and tax application software.

Mikatus

Series C in 2016
Mikatus is a Tokyo-based provider of cloud-based accounting and tax software for tax professionals and small and medium-sized businesses. The company develops and sells cloud services and software for mobile and desktop use, offering an integrated system that combines accounting, payroll and tax functionality. Mikatus supports tax offices and SMEs by delivering services in tax, accounting, payroll, financial support and management support, helping firms differentiate themselves and enhance business performance. Its offerings aim to streamline accounting tasks for small and medium-sized enterprises and empower tax professionals with tools to plan, develop and manage financial processes.

Toreta

Series D in 2016
Toreta, Inc. is a Tokyo-based company founded in 2013 that specializes in developing a mobile application for restaurant reservation management. The application automates the recording of reservation conversations with customers and generates customer ledgers based on this information. It allows restaurants to accept reservations online at any time, enhancing operational efficiency. In addition to its core reservation system, Toreta has expanded its services to include mobile order capabilities and an AI-based reservation reception service, enabling users to check table availability at participating restaurants.

Raksul

Series D in 2016
Raksul Inc. is a Tokyo-based company that specializes in providing comprehensive printing services in Japan. Founded in 2009, Raksul offers a wide range of printed products, including flyers, business cards, pamphlets, posters, New Year’s cards, and various promotional materials. The company operates as a B2B platform, facilitating a streamlined connection between small and medium-sized enterprises and existing players in the printing, logistics, and advertising industries. By leveraging a sharing economy model, Raksul enables customers to access excess capacities from these industries at competitive prices, thereby simplifying traditional value chains and promoting efficiency.

Paidy

Series B in 2016
Paidy is a Japanese fintech company that offers a cardless real-time payment network. It enables consumers to buy online without a credit card or pre-registration, optimizing for mobile and instant-checkout. Paidy's platform uses proprietary technology to score creditworthiness, underwrite transactions, and guarantee payment to merchants.

Retty

Series D in 2016
Retty is a Japanese online platform that operates a real-name gourmet service for discovering and sharing restaurant information. It provides restaurant reviews and recommendations, enabling users to search for dining options in Japan based on recommendations from friends and others with similar tastes. The platform functions as a social dining community where users can share experiences and plan where to eat, emphasizing authenticity and personalized search. Retty focuses on delivering curated restaurant information through a single gourmet platform.

PORT

Venture Round in 2016
Port Inc. is a Tokyo-based company that specializes in various domain-specific vertical media and content marketing tailored to user needs in Japan. Founded in 2011, it operates financial information platforms that facilitate money management through services focused on increasing, borrowing, and saving. Additionally, Port offers a career information platform that connects users with employment opportunities and recruiting companies, enhancing career transition and job matching. The company also provides an online healthcare platform aimed at improving lifestyle habits, supervised by medical professionals, as well as a medical information site addressing lifestyle diseases for individuals and enterprises. Formerly known as Social Recruiting Co., Ltd., Port Inc. rebranded in 2015 to reflect its broader service offerings in internet media and technology across the fields of career, finance, and healthcare.

Kaizen Platform

Series B in 2016
Founded in 2013, Kaizen Platform Inc. offers a digital marketing platform enabling brands, agencies, and freelancers to collaborate on creating and testing customer journey experiences across mobile, social media, display ads, and landing pages. Serving sectors like retail, finance, travel, and tech, the company combines multichannel marketing software with a cloud of designers and copywriters for improved performance.

Plaid

Venture Round in 2015
Plaid, Inc. is a Tokyo-based company that develops and operates KARTE, a cloud-based customer experience platform designed to enhance customer interactions on websites and applications. Founded in 2011, the platform analyzes user behavior to facilitate personalized communication with customers. In addition to its primary offering, Plaid engages in the planning and management of specialized media, including EC-focused media called Shopping Tribe and customer experience-oriented media known as XD. The company's services cater to a diverse range of industries, including finance, insurance, human resources, retail, real estate, IT, media, travel, manufacturing, healthcare, and education. By leveraging data analysis, Plaid aims to optimize customer engagement and streamline communication strategies for its clients.

Kaizen Platform

Series A in 2015
Founded in 2013, Kaizen Platform Inc. offers a digital marketing platform enabling brands, agencies, and freelancers to collaborate on creating and testing customer journey experiences across mobile, social media, display ads, and landing pages. Serving sectors like retail, finance, travel, and tech, the company combines multichannel marketing software with a cloud of designers and copywriters for improved performance.

Retty

Series C in 2015
Retty is a Japanese online platform that operates a real-name gourmet service for discovering and sharing restaurant information. It provides restaurant reviews and recommendations, enabling users to search for dining options in Japan based on recommendations from friends and others with similar tastes. The platform functions as a social dining community where users can share experiences and plan where to eat, emphasizing authenticity and personalized search. Retty focuses on delivering curated restaurant information through a single gourmet platform.

AppsFlyer

Series B in 2015
AppsFlyer Ltd. is a mobile app measurement platform founded in 2011 and headquartered in Herzliya, Israel, with additional offices worldwide. The company specializes in helping mobile app developers, brands, and advertising agencies measure and optimize their customer acquisition strategies through a real-time analytics dashboard. Its platform integrates with numerous media partners, allowing advertisers to assess and enhance their mobile app promotional campaigns across various channels, including paid, organic, and social media. AppsFlyer offers several key solutions, such as Ad Revenue Attribution, which aids mobile publishers in evaluating user lifetime value by considering diverse revenue sources. The company also provides Agency Transparency for brands to gain insights into their campaigns and Protect360, a robust fraud protection service. With a focus on privacy and user experience, AppsFlyer supports a wide array of applications across platforms like the Apple App Store and Google Play, enabling clients to foster meaningful customer relationships through advanced data analytics and engagement tools.

Accounting SaaS Japan

Series B in 2014
Accounting SaaS Japan Co., Ltd., established in Tokyo, specializes in developing cloud-based accounting and tax application software.

Mikatus

Venture Round in 2014
Mikatus is a Tokyo-based provider of cloud-based accounting and tax software for tax professionals and small and medium-sized businesses. The company develops and sells cloud services and software for mobile and desktop use, offering an integrated system that combines accounting, payroll and tax functionality. Mikatus supports tax offices and SMEs by delivering services in tax, accounting, payroll, financial support and management support, helping firms differentiate themselves and enhance business performance. Its offerings aim to streamline accounting tasks for small and medium-sized enterprises and empower tax professionals with tools to plan, develop and manage financial processes.

Kaizen Platform

Series A in 2014
Founded in 2013, Kaizen Platform Inc. offers a digital marketing platform enabling brands, agencies, and freelancers to collaborate on creating and testing customer journey experiences across mobile, social media, display ads, and landing pages. Serving sectors like retail, finance, travel, and tech, the company combines multichannel marketing software with a cloud of designers and copywriters for improved performance.

Accounting SaaS Japan

Venture Round in 2014
Accounting SaaS Japan Co., Ltd., established in Tokyo, specializes in developing cloud-based accounting and tax application software.
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