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Bailey McCann, Opalesque New York: Cathay Innovation has launched a new €1 billion venture fund. This marks the third venture fund for the firm. At close, Cathay Innovation Fund III will be one of the largest multi-stage venture capital funds globally.
In addition to institutional investors the fund also has the backing of several corporations including Sanofi, TotalEnergies, Valeo, BNP Paribas Cardif, Groupe SEB, Groupe ADP (Paris Aeroport).
Fund III will focus on series A, B and late-stage startups in sectors including consumer, enterprise software, AI, inclusive fintech, digital health, new mobility, retail, and energy. With check sizes ranging from €5M to €80M, the firm will invest as a lead or co-investor with reserves for follow-on rounds in key geographies including Europe, Asia and North America.
"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."
Cathay Innovation has 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 ...................... To view our full article Click here
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