Paris-based VC Cathay Innovation Closes Its New €1bn fund

Cathay Innovation, a Paris-based venture capital firm, has announced the closing of its third and largest fund to date: a €1 billion vehicle dedicated to supporting startups driving the sustainable transformation of industries and society. This milestone positions Cathay Innovation among the select few venture funds in continental Europe to surpass the €1 billion threshold, underscoring its growing influence in the global investment landscape.Tech.eu+6VentureBeat+6Cathay Capital+6

Launched in July 2022, Cathay Innovation Fund III targets Series A, B, and late-stage startups across key sectors such as artificial intelligence (AI), digital health, fintech, enterprise software, consumer technology, new mobility, retail, and energy. Investment sizes range from €5 million to €80 million, with provisions for follow-on funding. The fund aims to back companies that are not only technologically innovative but also aligned with the United Nations Sustainable Development Goals, focusing on areas like good health and well-being, industry innovation, and climate action .WSJ+7EU-Startups+7VentureBeat+7Tech.eu+6sifted.eu+6Silicon Canals+6VentureBeat

Cathay Innovation’s approach is distinguished by its integration of a global investment platform, an extensive corporate ecosystem, and a sustainable investment framework. The firm collaborates closely with multinational corporations—including Sanofi, TotalEnergies, Valeo, BNP Paribas Cardif, Groupe SEB, and Groupe ADP—that serve as both limited partners and strategic partners. These collaborations facilitate knowledge exchange and provide startups with opportunities to scale innovation within real-world industries .Cathay Capital+3VentureBeat+3EU-Startups+3WSJ+7Tech.eu+7VentureBeat+7

Since its inception in 2015, Cathay Innovation has made over 120 investments across Europe, North America, Asia, Latin America, and Africa, contributing to the creation of 19 unicorns such as Chime, Glovo, Ledger, Owkin, and Momenta. The firm has also achieved notable exits, including the public offerings of Pinduoduo and Wallbox, and the acquisitions of Glovo by Delivery Hero and Drivy by Getaround .Cathay Capital+7VentureBeat+7EU-Startups+7sifted.eu+4Silicon Canals+4VentureBeat+4

With Fund III, Cathay Innovation continues to build on its mission to support the next generation of companies that are poised to redefine industries through digital and sustainable transformation. By leveraging its global reach and collaborative model, the firm seeks to empower startups that are not only innovative but also committed to creating a positive impact on society and the environment.Silicon Canals+5VentureBeat+5EU-Startups+5Cathay Capital

In an era where industries are rapidly evolving, Cathay Innovation’s €1 billion fund represents a significant commitment to fostering innovation that aligns with broader societal goals. As the firm continues to identify and support transformative startups, it solidifies its role as a key player in shaping a more sustainable and technologically advanced future.

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