Fidelity unit sets up fund for smart tech

Eight Roads Ventures, the proprietary investment arm of Fidelity International Ltd, announced the launch of its dedicated technology fund for China on Tuesday.

With a size of $275 million, the fund will invest in companies based in China and cross-border deals, mainly focusing on enterprise technology, fintech and consumer technology.

The fund will look for investment opportunities in areas including big data, artificial intelligence, information security, the Internet of Things, blockchain, social commerce and consumption upgrade. It will offer enterprise tech and fintech support for companies in the early stage and consumer tech support for those in the growth stage.