Note from the Publisher: Pretty much blown away by this. WealthManagement is reporting that FIDELITY is the top investor in unicorn startups – more than any other VC – including the big boys Sequoia Capital or Andreessen Horowitz. Formerly known as Fidelity Ventures, Eight Roads Ventures typically invests between $3M and $50M per transaction and operates as a separate subsidiary of Fidelity Investments. According to Crunchbase, they are headquartered in London, and have made recent investments in fintechs PingPong Financial, NotOnTheHighStreet, and Paidly in August, 2016 alone. Their investments range from Seeds to Series E fundings, so they’re quite diverse. T Rowe Price is also high up on the VC unicorn investor list, at #5.
“The mutual fund industry is taking on a bigger role in Silicon Valley—and some venture capitalists aren’t happy about it. Fidelity currently holds stakes in 24 unicorn startups—those with $1 billion or more valuations—more than any other VC firm, according to a new Pitchbook report cited by TechCrunch.com. (When WealthManagement.com wrote about the trend a year ago, Fidelity was sixth on the list, with stakes in 13 unicorns.) Fidelity is followed by the usuals: SV Angel, Sequoia Capital and Andreessen Horowitz. Another mutual fund manager, T. Rowe Price, is fifth on the list, with stakes in 17 unicorns.”