Cathay Innovation raises 287 million euros for its first investment vehicle

by bold-lichterman

  • The Cathay Innovation fund announces the closing of its first investment vehicle, endowed with 287 million euros.
  • It will invest in the capital of 20 to 25 innovation companies in Europe, China and the United States.
  • Around ten investments have already been made, including the French Alkemics and Drivy.

Connecting French and Chinese tech start-ups with the rest of the world to help them develop is the objective of the fund. Cathay Innovation. Launched in 2015, Cathay Innovation announces today the final closing of its first investment vehicle. In total, the fund has a budget of 287 million euros to invest in the capital of 20 to 25 innovative companies, present in Europe, China and the United States. The ticket is between 3 million euros and 15 million euros.

Connecting French and Chinese start-ups with the whole world may seem obvious. But this approach did not exist until now in the world of venture capital and meets a real need of digital entrepreneurs. They must indeed accelerate the dissemination of their innovations and very quickly target the global scale ”, details Mingpo Cai, Chairman of Cathay Capital Private Equity and co-founder of Cathay Innovation. The fund is led by Denis barrier (photo of one), who is also the co-founder.

Bpifrance and CDB Capital are among the first subscribers to the Cathay Innovation fund. They were joined by BNP Paribas Cardif, the ADP, Artemis, Seb, Joyoung, Michelin, Total groups, as well as by Valeo.

Affiliated with Cathay Capital, the fund now has a team of 11 people, spread between France, China and the United States. More than 10 investments have already been made, including the unicorn Pinduoduo, a social commerce platform, and the French Alkemics and Drivy.

Photo credit: Cathay Innovation