Cathay Innovation Launches €1 Billion Global Venture Capital Fund | Photo credits: Aéroports de Paris – LAFONTAN, Mikaël and SEIGNETTE, Olivier
July 12 (Reuters) – The Franco-Chinese Cathay Innovation announced on Tuesday the launch of its third venture capital fund for an amount of one billion euros, aimed at startups active in the sustainable transformation of industry and of the society.
This new fund “aims to enable startups to position their digital platforms at the center of certain major markets, promoting the emergence of new economic models and a sustainable transformation of industries and society”, indicated Cathay Innovation in a communicated.
The investments will focus on enterprise software, artificial intelligence (AI), fintech, digital health, the new consumer and new mobility, said the financial vehicle, a subsidiary of the Cathay Capital group.
The fund is backed by institutional investors and multinationals including Sanofi, TotalEnergies, Valeo, BNP Paribas Cardif, Groupe SEB and ADP.
(Reporting Federica Mileo, editing by Kate Entringer)