PARIS–(BUSINESS WIRE)–Cathay-Innovation today announced the launch of its third venture capital fund, a €1 billion global fund investing in startups accelerating the sustainable transformation of industries and society. Upon closing, Cathay Innovation Fund III will be one of the largest multi-stage venture capital funds in the world and is backed by institutional investors and multinational companies such as Sanofi, TotalEnergies, Valeo, BNP Paribas Cardif, Groupe SEB , ADP Group (Paris Aéroport) and Suite.
Over the next ten years, all industries will face massive change as modern digital infrastructure redefines markets by better connecting products, customer needs and the broader value chain. The new fund aims to empower companies to lead the major markets of the future by supporting next-generation technologies, business models and platforms at the center of digital and sustainable transformation.
“We are committed to helping create the economy of tomorrow while having a positive impact on society“, said Mingpo Cai, Founder and Chairman of Cathay Capital and Cathay Innovation. “Fund III marks an important milestone in our journey, creating a cross-industry platform that connects large companies and startups to collaborate, exchange knowledge and support sustainable transformation for all stakeholders. We are honored to have the trust of new and existing investors, partners and industry leaders who are leveraging the Cathay platform to take the lead in their respective fields and work together to bring about meaningful change..”
Cathay Innovation has made over 120 investments in Europe, North America, Asia, Latin America and Africa that have raised over $16 billion and created 15,000 jobs since its inception in 2015. The company backed 19 unicorns including Chime, Glovo, Ledger, Owkin, Momenta, Sidecar Health and ZenBusiness with exits including the public offerings of Pinduoduo (Nasdaq: PDD) and Wallbox (NYSE: WBX) and Glovo’s acquisitions by Delivery Hero, Drivy by Getaround, Alkemics by Salsify and Trifacta by Alteryx.
From eight offices across five continents, Cathay Innovation now has approximately €2 billion in assets under management across three renowned funds as well as specialist vehicles such as C.Entrepreneur, Cartech, Smart Energy, Cathay AfricInvest Innovation, Seaya Cathay Latam and the recently launched Ledger Cathay Capital. fund dedicated to web3. Fund III will focus on Series A, B and late-stage startups in sectors such as consumer, enterprise software, AI, inclusive fintech, digital health, new mobility, retail detail, energy and beyond. With check amounts ranging from €5 million to €80 million, the company will invest as lead or co-investor with reserves for follow-on funding rounds in key geographies such as Europe, Asia and North America.
A fund to support the transformation of sectors and society
The new fund seeks to make investments more meaningful by focusing on both transformational potential and financial returns, leveraging various elements of Cathay Innovation’s investment approach:
- A global investment platform: includes investors with deep local expertise spanning the world’s innovation hubs to identify emerging trends while enabling startups to access new markets.
- A large business ecosystem: the fund is strongly supported by leading multi-industry companies globally, acting as strategic partners who collaborate with portfolio companies to scale innovation in real-world industries and their own digital transformation.
- A sustainable investment framework: integrates sustainability into every stage of the investment cycle to measure, track and maximize the impact of startups while helping entrepreneurs build more responsible and resilient businesses.
“We believe the time is right to accelerate digital transformation over the next decade, as innovation represents the greatest opportunity to address some of the world’s greatest challenges,” said Denis Barrier, co-founder of Cathay Innovation. “With Fund III, we now have tailored investment theses for healthcare, finance, consumer, energy, mobility and logistics – investing in the next-generation technologies that will be ubiquitous across global industries. to provide better and more efficient products and solutions that meet the needs of end customers. And this new generation of companies, bigger and more sustainable than ever, has the potential to have a greater impact on industries, society and daily life of people all over the world.
About Cathay Innovation
Cathay Innovation is a global venture capital partnership, created in affiliation with Cathay Capital, which invests in startups at the center of the digital revolution in North America, Latin America, Europe, Asia and Africa. Its global platform unifies technology investments across continents, investors, entrepreneurs and large corporations to accelerate startup growth with access to new markets, invaluable industry insights and partner introductions potential from the start. As a multi-stage fund with over $2 billion in assets under management and offices in San Francisco, New York, Paris, Shanghai, Beijing and Singapore, Cathay Innovation partners with visionary entrepreneurs and startups who positively impact the world through technology. To learn more, please visit www.cathayinnovation.com or follow us on Twitter @Cathayinnov.
About Cathay Capital
Cathay Capital Group is a global investment firm supporting businesses at all stages in North America, Asia, Europe and Africa. Helping to seize the opportunities of globalization and sustainable transformation, Cathay is the partner of choice for companies that aspire to lead markets and make a positive impact. Its global platform connects people – from investors and entrepreneurs to management teams and large corporations – across continents to share knowledge, tools to scale and achieve the extraordinary. Founded in 2007 with a strong entrepreneurial heritage, Cathay Capital today manages over $5 billion in assets, has completed over 220 buyouts, growth and venture capital investments with global reach and local expertise for decades. offices in Paris, New York, Shanghai, Munich, San Francisco, Beijing, Singapore and Shenzhen.
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