Global venture capital firm Cathay Innovation has announced its third fund, targeting €1 billion ($1.05 billion) to invest in technology start-ups with an eye on sustainability.

Cathay Innovation Fund III, backed by multinationals including French drugmaker Sanofi, TotalEnergies, Valeo, BNP Paribas Cardif, Groupe SEB, Groupe ADP (Paris Aéroport), and more, will fo