Cathay Capital Launches New €500M Health Fund
May 23, 2022
PARIS, 23 May 2022 – Cathay Capital today announced the launch of Cathay Health, a new €500M global fund dedicated to investing at the convergence of healthcare, life sciences and technology. Building on the success of the firm’s investment track record and platform, the new fund will focus on venture to growth-stage companies across Europe, North America and Asia whose innovative tech-enabled products will catalyze groundbreaking advances in medicine.
Cathay Health represents the latest expansion of Cathay Capital, which has invested nearly €500M in the healthcare sector to date across 34 companies on three continents from its private equity and venture funds. Cathay Health deepens Cathay Capital’s commitment to the industry as it looks to leverage its platform to catalyze cross-border collaboration between investors, startups, established companies and large corporations to build transformative solutions for healthcare’s most pressing challenges.
With the goal of improving human health and care in all its dimensions, Cathay Health focuses on six key areas: life sciences tools, diagnostics, clinical trial innovation, advanced therapeutics, new care models, and next-generation medical devices and materials. With check sizes ranging from €5 to €50M, the fund will invest in Series A through D companies as a lead or co-investor with reserves for follow-on rounds. Thus far, the fund has invested in three companies: French medtech Tissium (biopolymers for sutureless tissue repair), US-based pre-clinical biotech company Kojin Therapeutics (drug discovery platform targeting the ferroptosis pathway) and US-based healthcare venture studio Initiate (veteran company builders in the health tech space).
“It’s never been more critical to work together to build global solutions for the world’s health challenges. At Cathay, we’ve leveraged our platform to support companies at all stages while helping our corporate partners bring innovation to life in real world industries. With Cathay Health, we’re deepening our commitment in healthcare to fuel meaningful transformation to our ecosystem and for society as whole. Our team not only invests in — but also represents — the convergence of health, life sciences and technology with unmatched expertise and knowledge across sectors. I’m confident that we will find the most innovative founders, build the future global leaders, and together, take on healthcare’s most pressing challenges,” said Mingpo Cai, founder, chairman and CEO of Cathay Capital.
Cathay Health is backed by leading institutional and corporate investors such as French public investment bank Bpifrance, global insurance company AXA and pharmaceutical company Groupe Pierre Fabre. It has also received the label from the Tibi Commission, which aims to accelerate the financing of French and European technology companies to create global leaders.
A seasoned investment team at the convergence helping companies scale across borders
The Cathay Health team has deep experience across various backgrounds that uniquely bridge complementary fields of life sciences, healthcare and technology.
Leading the fund is co-founder and managing partner Hongjie Hu, MBA, who brings more than 20 years of industry expertise, most recently building Temasek’s medtech and digital health investment portfolio. The team also includes managing partner Eric de La Fortelle, Ph.D., MBA (MRC-LMB, Roche), managing director Jia-Yi Har (Philips Healthcare; Partners Group) and venture partners Gini Deshpande, Ph.D., (founder and CEO of NuMedii) and Steve Oesterle, M.D., (former Medtronic Senior Vice President of Medicine and Technology), along with an expanding network of high-profile partners and advisors representing key disciplines across the sector.
“In the era of data-driven medicine, emerging technologies and solutions at scale have the potential to have a huge impact on human health and care in all its dimensions. These future leaders of the health economy show the promise of strong intellectual property, differentiated technology for personalized care, better access, lower costs and improved efficiencies. At Cathay Health, with a deep understanding of the health-technology interface across regions, our goal is to best support the growth of ground-breaking companies at the convergence that hold the most promise for patients worldwide,” added Mr. Hu.
Spanning the world’s leading life sciences and technology hubs, including San Francisco, New York, London, Cambridge, Paris, Basel and Shanghai, its global reach will help companies scale across borders with direct access to new markets, partners and patients.
About Cathay Health
Cathay Health, affiliated to Cathay Capital, is a global fund investing at the convergence of healthcare, life sciences and technology. As a multi-stage €500M fund, it backs venture and growth-stage companies across Europe, North America and Asia whose tech-enabled solutions catalyze groundbreaking advances in medicine. Its global platform brings together startups, established companies and large corporations to fuel cross-border, cross-industry collaboration and growth with direct access to new markets, partners and patients. From the world’s leading life sciences and technology hubs, including San Francisco, New York, London, Cambridge, Paris, Basel and Shanghai, Cathay Health partners with future leaders in the data-driven medicine era that will transform human health and care in all its dimensions.
About Cathay Capital Group
Cathay Capital Group is a global investment firm supporting companies at all stages throughout North America, Asia, Europe and Africa. By helping navigate the opportunities of globalization and sustainable transformation, Cathay is the partner of choice for companies aspiring to lead markets and make a positive impact. Its global platform connects people – from investors and entrepreneurs to management teams and leading corporations – across continents to share knowledge, the tools to scale, and achieve the extraordinary. Founded in 2007 with a strong entrepreneurial heritage, Cathay Capital now manages over $4.5B in assets, has completed over 220 buyouts, growth and venture capital investments with the global reach and local expertise from offices in Paris, New York, Shanghai, Munich, San Francisco, Beijing, Singapore, Shenzhen and Tel Aviv.
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