Key Takeaways
- • Cathay Innovation launched its third venture capital fund, Fund III, targeting €1B, positioning it as one of the largest multi-stage venture capital funds globally at close, according to Business Wire.
- • Fund III is backed by institutional investors and multinational corporations including Sanofi, TotalEnergies, Valeo, BNP Paribas Cardif, Groupe SEB and Groupe ADP (Paris Aéroport).
- • The firm has made over 120 investments since 2015, backed 19 unicorns, and its portfolio companies have raised over $16B, per the announcement.
- • Fund III will make series A, B and late-stage investments with check sizes of €5M to €80M, investing as lead or co-investor with reserves for follow-on rounds.
- • Cathay Innovation manages around €2B across three flagship funds and specialized vehicles, operating from eight offices across five continents.
Summary
Cathay Innovation announced the launch of Fund III, a €1B global venture capital fund focused on startups driving the sustainable transformation of industries and society. The firm describes the fund as one of the largest multi-stage venture capital funds globally at close. It is backed by institutional investors and multinational corporations including Sanofi, TotalEnergies, Valeo, BNP Paribas Cardif, Groupe SEB, Groupe ADP (Paris Aéroport) and others.
The fund targets technologies expected to reshape industries over the next decade, including healthcare, finance, consumer, mobility, logistics and energy. Sectors named include enterprise software, AI, inclusive fintech, digital health, tech-enabled consumer, new mobility, retail and digital energy. Investments are aligned with UN Sustainable Development Goals 3 (Good Health and Well-Being), 8 (Decent Work and Economic Growth), 9 (Industry, Innovation and Infrastructure) and 13 (Climate). The fund will focus on series A, B and late-stage companies, with check sizes from €5M to €80M, and will invest as lead or co-investor in Europe, Asia and North America.
Cathay Innovation said it has made more than 120 investments across Europe, North America, Asia, Latin America and Africa since 2015, and that these companies have raised over $16B and created 15,000 jobs. The firm has backed 19 unicorns, including Chime, Glovo, Ledger, Owkin, Momenta, Sidecar Health and ZenBusiness. Notable exits include the public offerings of Pinduoduo (Nasdaq: PDD) and Wallbox (NYSE: WBX), and acquisitions of Glovo by Delivery Hero, Drivy by Getaround, Alkemics by Salsify and Trifacta by Alteryx.
The firm currently manages around €2B across three flagship funds and specialized vehicles, including C.Entrepreneur, Cartech, Smart Energy, Cathay AfricInvest Innovation, Seaya Cathay Latam and the recently launched Ledger Cathay Capital fund dedicated to web3. Cathay Innovation is a affiliate of Cathay Capital Group, which manages over $5B in assets and was founded in 2007. Mingpo Cai, Founder and Chairman of Cathay Capital and Cathay Innovation, said the fund marks an important milestone in building a multi-industry platform connecting large corporations and startups. Co-founder Denis Barrier said the firm now has tailored investment theses for healthcare, finance, consumer, energy, mobility and logistics.
The fund targets technologies expected to reshape industries over the next decade, including healthcare, finance, consumer, mobility, logistics and energy. Sectors named include enterprise software, AI, inclusive fintech, digital health, tech-enabled consumer, new mobility, retail and digital energy. Investments are aligned with UN Sustainable Development Goals 3 (Good Health and Well-Being), 8 (Decent Work and Economic Growth), 9 (Industry, Innovation and Infrastructure) and 13 (Climate). The fund will focus on series A, B and late-stage companies, with check sizes from €5M to €80M, and will invest as lead or co-investor in Europe, Asia and North America.
Cathay Innovation said it has made more than 120 investments across Europe, North America, Asia, Latin America and Africa since 2015, and that these companies have raised over $16B and created 15,000 jobs. The firm has backed 19 unicorns, including Chime, Glovo, Ledger, Owkin, Momenta, Sidecar Health and ZenBusiness. Notable exits include the public offerings of Pinduoduo (Nasdaq: PDD) and Wallbox (NYSE: WBX), and acquisitions of Glovo by Delivery Hero, Drivy by Getaround, Alkemics by Salsify and Trifacta by Alteryx.
The firm currently manages around €2B across three flagship funds and specialized vehicles, including C.Entrepreneur, Cartech, Smart Energy, Cathay AfricInvest Innovation, Seaya Cathay Latam and the recently launched Ledger Cathay Capital fund dedicated to web3. Cathay Innovation is a affiliate of Cathay Capital Group, which manages over $5B in assets and was founded in 2007. Mingpo Cai, Founder and Chairman of Cathay Capital and Cathay Innovation, said the fund marks an important milestone in building a multi-industry platform connecting large corporations and startups. Co-founder Denis Barrier said the firm now has tailored investment theses for healthcare, finance, consumer, energy, mobility and logistics.
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