Cathay Innovation launches its second venture capital fund to act as the trusted global expansion partner of entrepreneurs
May 4, 2020
Paris, San Francisco, Shanghai, June 18, 2019
Cathay Innovation today announces the launch of a new investment vehicle, with a first closing at EUR 320 million and a fundraising target of EUR 500 million. The new investment vehicle will allow Cathay Innovation’s team – now strong of 30 members based in Paris, San Francisco, Shanghai – to continue to roll out its successful investment strategy in cutting edge start-ups aiming to lead their market.
“Cathay Innovation offers an approach that resonates among our investors as we manage to create trust and a collaborative environment between investors, corporates and start-ups. In today’s world, all players must accelerate the diffusion of their innovations to quickly scale up globally, and we have proven that connecting the key ecosystems of innovation in Europe, China and the United States creates value. We are very grateful to the partners that have adhered to this vision and pleased to welcome new investors and corporates in our ecosystem”, explains Mingpo Cai, President of Cathay Capital and co-founder of Cathay Innovation.
Cathay Innovation invests in tomorrow’s leading tech start-ups at the beginning of the expansion phase, when they are ready to reach new markets and create new industries, services or solutions for the development of a more sustainable world. This new venture fund builds on the success of Cathay Innovation’s first EUR 287m fund with a unique investment philosophy. This first closing of Fund II at EUR 320 million includes the renewed support from investors of the first fund – including such strategic partners as Bpifrance, Groupe ADP, Groupe SEB, Michelin, Valeo and GL events, – and the arrival of new partners including Accor, BioMérieux, Dassault, JCDecaux Holding, Kering and Pernod Ricard.
“The world will change more in the next 10-15 years than it has in the last 100 years as a result of the combined impact of digitalization, artificial intelligence, behavioural changes in new generations, and the speed of globalization”, explain Denis Barrier, CEO and co-founder of Cathay Innovation. “Entrepreneurs need to aim higher and set renewed measures for success. Any really ambitious entrepreneur in the world should be aiming for more than just a unicorn status”.
Since its inception in 2015, Cathay Innovation has demonstrated the results of its approach by its ability to benchmark innovation over 3 continents whatever the market segment and to invest in some of the most interesting opportunities across the 3 regions. Cathay Innovation has thus invested in over 30 early stage companies, with annual gross revenues that already exceed USD 100 billion. Cathay Innovation’s portfolio includes many promising businesses among which Pinduoduo, Chime, KaiOS, Momenta, Kayrros, Glovo, Ledger, Lumi, OnTruck, Owkin, Trifacta.
Cathay Innovation invests at the beginning of the market expansion stage and removes the complexity of international expansion for emerging tech companies while helping corporate partners think and act like fast-moving start-ups. Cathay Innovation brings together a trusted cross border platform, local market knowledge and deep sector expertise that lead to unparalleled commercial and partnership opportunities.
Through the new Fund, Cathay Innovation will keep investing in the digital transformation that affects all industries, with a specific focus on key verticals that include the future of commerce, new consumer tech, B2B services, platform opportunities, healthcare, fintech mobility and energy. As our deep desire is also to contribute to the transformation of the economy and to impact society positively, Cathay Innovation is committed to analyze its investments taking into account the Sustainable Development Goals of the United Nations, in order to favor companies with environmental and social benefits that are offering solutions to the challenges of sustainable development.
 Bpifrance invests in equity and through various mandates, in particular within the framework a public Programme of the French State
 The investment holding of the Decaux family
About Cathay Innovation
Cathay Innovation is a global venture capital partnership, created in affiliation with Cathay Capital. It was founded around the shared conviction that supporting innovation entrepreneurs by providing them with a platform bridging 3 continents – North America, Europe and China – constitutes a particularly powerful value-creation strategy. As a multi-stage fund, Cathay Innovation partners with visionary entrepreneurs, committed to driving change through technology. Such transformation is accelerated by leveraging Cathay Capital extensive network with corporates and solid experience in operational excellence. Cathay Innovation has offices in San Francisco, Paris, Beijing and Shanghai. To learn more, please visit www.cathayinnovation.com or follow us on Twitter @Cathayinnov.
About Cathay Capital
Cathay Capital Private Equity is a leading international private equity firm focused on cross-border investment and committed to supporting the international expansion of middle-market companies in North America, China and Europe. The firm’s team of nearly 90 professionals is based in New York, Shanghai, Beijing, Paris, Munich, San Francisco and Tel Aviv and leverages its unique business model and platform to create value for companies across three continents. With more than €2.8 billion in assets under management, Cathay Capital Private Equity has completed over 100 buyouts and growth capital investments across three continents since its inception in 2007. Cathay Capital Private Equity invests in and assists middle-market companies in the consumer goods and services, healthcare, business services and technology industries. For more information, please visit www.cathay.fr
Yoann Besse, +33 (0)1 53 32 78 89, [email protected]