Cathay Innovation Launches Fund III with €1 Billion to Accelerate Sustainable Transformation Globally

Cathay Innovation, a California-based venture capital firm, recently announced the launch of its third fund, which aims to invest €1 billion globally in startups that are accelerating the sustainable transformation of various industries and society. Cathay Innovation Fund III, which is supported by institutional investors and multinational corporations such as Sanofi, TotalEnergies, Valeo, BNP Paribas Cardif, Groupe SEB, Groupe ADP (Paris Aéroport), and others, has the potential to become one of the largest multi-stage venture capital funds worldwide.

The next decade will bring significant changes to all industries as modern digital infrastructure redefines markets by better linking products, customer needs, and the wider value chain. Cathay Innovation Fund III aims to support companies in leading the larger markets of the future by investing in next-generation technologies, business models, and platforms that are at the center of digital and sustainable transformation.

Cathay Innovation’s Founder and Chairman, Mingpo Cai, has expressed the company’s commitment to creating a sustainable economy for the future that also has a positive impact on society. The launch of Fund III is a significant milestone for the company as it builds a multi-industry platform that connects large corporations and startups to collaborate, exchange knowledge, and support sustainable transformation for all stakeholders. The trust and support of new and existing investors, partners, and industry leaders who leverage the Cathay platform to drive meaningful change is highly valued by Cathay Innovation.

Since its inception in 2015, Cathay Innovation has invested in over 120 startups across the globe, including Europe, North America, Asia, Latin America, and Africa. These investments have raised over $16 billion and created 15,000 jobs. Cathay Innovation also provides support to 19 unicorns, such as Chime, Owkin, Momenta, Sidecar Health, Glovo, Ledger, and ZenBusiness. Some of the successful exits of Cathay Innovation’s portfolio companies include Pinduoduo’s public offering (Nasdaq: PDD) and Wallbox’s public offering (NYSE: WBX). Furthermore, several acquisitions, such as Glovo’s acquisition by Delivery Hero, Drivy’s acquisition by Getaround, Alkemics’ acquisition by Salsify, and Trifacta’s acquisition by Alteryx, have also occurred.

In summary, Cathay Innovation has launched a new fund, Cathay Innovation Fund III, which aims to invest €1 billion globally in startups that are accelerating the sustainable transformation of various industries and society. The fund has the backing of institutional investors and multinational corporations, and it seeks to empower companies to lead the larger markets of the future by investing in next-generation technologies, business models, and platforms that are at the center of digital and sustainable transformation.