Cathay Innovation drives Industrial, societal transformation through Euro 1Bn VCF


California based Cathay Innovation recently announced the launch of its third venture capital fund, a Euro 1B global fund investing in startups accelerating the sustainable transformation of industries and society. At close, Cathay Innovation Fund III could be one of the largest multi-stage venture capital funds globally and is backed by institutional investors and multinational corporations including Sanofi, TotalEnergies, Valeo, BNP Paribas Cardif, Groupe SEB, Groupe ADP (Paris Aéroport) and more.

In the next ten years, all industries face massive change as modern digital infrastructure redefines markets by better linking products, customer needs and the wider value chain. The new fund looks to empower companies to lead the larger markets of the future by backing next-gen technologies, business models and platforms at the center of digital and sustainable transformation.

Cathay Innovation Fund III could be one of the largest multi-stage venture capital funds globally. Source

“We’re 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, building a multi-industry platform that connects large corporations and startups to collaborate, exchange knowledge and support the sustainable transformation of all stakeholders. We’re honored to have the trust of new and existing investors, partners and industry leaders who leverage the Cathay platform to take the lead in their respective fields and work together to drive meaningful change.”

Cathay Innovation has reportedly made over 120 investments across Europe, North America, Asia, Latin America and Africa that have gone on to raise over $16B and created 15,000 jobs since starting in 2015. The firm has 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 the acquisitions of Glovo by Delivery Hero, Drivy by Getaround, Alkemics by Salsify and Trifacta by Alteryx.



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