Eight Roads Ventures Europe, the investment division of fund managers Fidelity International, has launched its third $375 million fund to invest in European and Israeli scaleups.  The fund is part of a venture network that spreads across three continents giving them global viability.

It will back 15 to 20 companies with a ticket size averaging between $10 million and $30 million. The fund will cover a broad field of consumer and enterprise investment but has a focus on financial and consumer services.

Europe has a lack of credible scaleup advice and supports, said Davor Hebel, managing partner at the firm.

“We will continue to support our entrepreneurs with our global platform and value-add team of operators as they take their companies from 50 to 500 employees and beyond,” he said. “We are confident that with the right help the European ecosystem can systematically create $10 billion+ global tech businesses.”

Some of the firm’s previous investments include Made.comOTA Insight, and Oviva. This third fund follows Eight Roads previous Europe-focused funds which stood at £100 million (2010) and £150 million (2015).