Global Venture Capital Cathay Innovation Announced a third fund targeting € 1 billion ($ 1.05 billion) in a wide range of companies and technologies around the world.
Cathay Innovation is sure to begin with Fund III to become one of the largest multi-stage VC funds emerging from Europe after closure, including Series A, B, and late startups. The company said it intends to act as a lead or co-investor with investments ranging from $ 5 million to about $ 80 million.
The new fund follows $ 550 Million Second Fund in 2020It was also a multi-tiered fund — like the first fund before it.In parallel, Cathay Innovation is part of a wider range of private equity costumes known as Cathay PacificSince last month, we have also entered the industry by industry Launched a new $ 110 million fund Directed to the crypto sector.The month before that, Cathay Pacific itself Launched $ 500 Million Health Fund..
“Despite current market conditions and uncertainties, we are confident that the digital revolution will only continue to accelerate and that major tech companies will be very successful, demonstrating strong growth and pricing power.” Innovation CEO and co-founder Dennis Barrier said. TechCrunch. “In the next decade, all industries are facing major changes as modern digital infrastructure better connect products, customer needs, and a wider value chain. As a result, the market today is renewed. Companies that are well-defined and successfully deal with digital transformation will have the opportunity to lead a much larger market than before. “
The focus of Cathay Innovation is as broad as possible, covering almost every corner of the industrial sector, from fintech and mobility to retail and energy. But behind what may seem like a shotgun investment ethic at first, there is a strategy. Companies often need to build relationships with complementary companies in other industries, either as supply chain partners or as paid customers. Therefore, by investing in such a wide range of companies, Cathay can build a bridge between sectors.
“We are not only LPs (Limited Partners), but also Healthcare, Finance, Consumers, Energy, Mobility, Logistics,” Barrier explained. “This has several advantages because it allows access to valuable industry expertise and enables cross-industry fertilization. It connects startups to potential partners and key customers and scales. And it helps to drive the digital transformation efforts of our business partners while enabling innovation in the real world. “
While the central focus of the new fund will be on series A and B rounds, the company will have sufficient reserves for later growth rounds and will target investments in UN-affiliated companies. It states that. Sustainable Development GoalsIncorporate health and happiness. Decent work and economic growth; industry, innovation, infrastructure. And climate.
Cathay Innovation is by no means a location-specific fund, but its roots are firmly rooted in Europe and it opened its shop in Paris in 2015, where Barrier is currently based. More than half of Cathay Innovation’s global team (about 30 people) is also based in Europe, and more than one-third are based in Europe. That portfolio company I’m also from Europe.
“We are investing globally, but the Marquee Fund mainly covers Europe, North America and Asia, but always maintains its presence in Europe in terms of local teams, LPs and portfolio companies. “Baria said. “We have invested in many major European startups.”
Many of these startups continue to achieve notable exits, including the Spanish electric vehicle charging startup Wallbox. Currently trading on the New York Stock ExchangeAnd was the delivery company Globo Recently acquired by Delivery Hero.. In a broader sense, Cathay Innovation has invested in 120 companies, offering two IPOs, five acquisitions and 19 unicorns in the process.
However, since its inception seven years ago, Cathay Innovation has opened new offices and teams in North America, Asia and Africa, bringing VC companies into profitable markets everywhere.
“We are launching Cathay Innovation to help start-ups transforming key industries, and we believe that the best innovation comes from every corner of the world, and Fund III will continue,” Barrier said. Added.