10th February 2026 – (London) According to Bloomberg, Eight Roads, a venture capital firm backed by the billionaire Johnson family of Fidelity Investments, has decided to pause its plans to sell holdings in numerous Chinese technology companies as geopolitical barriers diminish and valuations show signs of recovery, according to sources familiar with the situation.
The firm had been in advanced discussions for the sale, despite those negotiations now being shelved. Sources, wishing to remain anonymous due to the confidential nature of the information, revealed that Eight Roads was considering divesting its interests in approximately 40 tech firms for an estimated $400 million—a significant markdown from their peak combined valuation of around $1 billion. Interest had been shown in these assets from firms like TR Capital.
The decision to sell had initially surfaced after the US government imposed restrictions on investments in China’s advanced technology sector. At that time, Eight Roads was exploring potential sales that might have been priced at discounts ranging from 60% to 80% from the companies’ highest valuations.
The change in strategy reflects an improvement in market sentiment and valuations, particularly following a meeting in October between Donald Trump and Xi Jinping that appeared to ease U.S.-China tensions.
In 2024, Eight Roads announced it would no longer pursue new investments in Chinese technology but would focus instead on managing its existing portfolio with a smaller team, particularly in the healthcare sector.
The Johnson family’s private investment vehicle has been a pioneer in China’s internet landscape, investing over $1.1 billion across more than 130 companies. Notable investments include stakes in Alibaba Group Holding Ltd. and self-driving car company Pony AI Inc. TR Capital, which focuses on secondary private equity investments in technology, consumer, and healthcare sectors throughout the Asia Pacific, has successfully closed five flagship funds and made more than 50 secondary investments since its inception in 2007.
