Cathay Innovation

What Cathay Innovation does

Cathay Innovation is a global multi-stage venture capital firm founded in 2015 and affiliated with Cathay Capital. The firm invests equity capital in growth-stage technology startups at inflection points of scale, writing checks ranging from $5 million to $100 million across Series A through growth equity rounds, with reserves held for follow-on participation. It manages over $1.5 billion in assets under management across multiple specialized fund vehicles, including a $1 billion Fund III closed in May 2025 that is the largest AI-dedicated venture capital fund from the European Union, alongside sector-specific vehicles such as C. Entrepreneurs (insurtech with BNP Paribas Cardif), Cathay AfricInvest Innovation (Africa), Cathay Latam Fund (Latin America), Cathay Smart Energy (China), Cathay Cartech & Mobility (with Valeo), and the Ledger Cathay Fund (crypto/web3). The firm also operates C.Lab, launched in December 2025 as a corporate advisory initiative on AI-era transformation.

The firm pursues a distinctive corporate-LP-led distribution model. More than 20 Fortune 500 and major corporations serve as limited partners and strategic partners — including Sanofi, TotalEnergies, Valeo, BNP Paribas Cardif, L'Oréal, Michelin, Kering, Pernod Ricard, Accor, CMA CGM, Groupe ADP, BioMérieux, Bpifrance, Vale, Air Liquide, Copec WIND Ventures, Unilever Ventures, JCDecaux, MACSF, M6 Group, and Groupe SEB — providing portfolio companies with direct access to customer pipelines, channel partnerships, and acquisition paths. Platform services include Cathay Connect (peer CEO knowledge-sharing exchanges across Asia, Europe, and the US) and Cathay Consult (CEO coaching and strategic guidance).

Geographically, Cathay Innovation operates from six offices across three continents: San Francisco and New York (North America), Paris (European headquarters), Shanghai and Beijing (China), and Singapore (Southeast Asia), with active investment coverage extending to Latin America (Brazil, Mexico) and Africa (Kenya, Nigeria). The firm employs approximately 50+ professionals across senior leadership, with regional Managing Partners for China (Lanchun Duan), EU (Jacky Abitbol), and US (Simon Wu), alongside a dedicated Chief Impact Officer, CFO functions in EU and China, and specialized sector leads for Crypto, Fintech, Commerce, Energy, Mobility, and Healthcare. Revenue is generated through conventional venture capital mechanics — management fees on committed capital (typically 1.5-2.0% annually) and carried interest on realizations — with C.Lab representing a new fee-for-service revenue stream from corporate advisory work.

Name

Cathay Innovation

Legal name

Cathay Innovation

Website

http://www.cathayinnovation.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

Cathay Innovation is a global multi-stage venture capital firm managing $1.5 billion+ AUM, investing $5M-$100M checks in AI, fintech, healthcare, mobility, and energy startups across the US, Europe, China, LATAM, Africa, and SEA, backed by 20+ Fortune 500 corporate LPs.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Investment Advice (6282)

akta.pro primary industry

Multi-Sector / Generalist Growth Equity (FSANACAO)

akta.pro secondary industries

Technology & Software Growth Equity (FSANACAA), Healthcare & Life Sciences Growth Equity (FSANACAB)

Keywords

• Venture capital investing
• Growth-stage equity funding
• AI-focused venture capital
• Global startup investment
• Corporate venture partnerships

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Venture Capital Returns: Cathay Innovation generates returns through equity investments in portfolio companies, realizing gains through IPOs, acquisitions, and secondary transactions. The firm manages over $1.5 billion across multiple funds including the $1 billion Fund III focused on vertical AI solutions.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Cathay Innovation is a global multi-stage venture capital firm that invests $5M to $100M in growth-stage startups across digital transformation, AI, fintech, digital health, mobility, energy, and commerce. The firm operates multiple specialized funds (including the $1 billion AI-dedicated Fund III) and supports portfolio companies through a global platform providing corporate introductions, strategic guidance, CEO coaching, and follow-on capital.

Product overview

Cathay Innovation is a multi-stage venture capital firm affiliated to Cathay Capital that provides investment platform services to entrepreneurs. The firm does not develop or sell its own technology products; rather, it invests in portfolio companies across sectors including AI, fintech, digital health, and robotics. The platform provides access to global ecosystem support, corporate partnerships, and knowledge sharing services for portfolio companies.

Differentiator

Problem solved

Functional benefit

Brands

• C. Entrepreneurs: Dedicated fund investing in early-stage startups reinventing insurance in partnership with BNP Paribas Cardif
• Cathay AfricInvest Innovation
• Cathay InnoSquare
• Cathay Smart Energy
• Cathay Cartech & Mobility
• Cathay Latam Fund
• Ledger Cathay Fund
• C.Lab
• Cathay Connect
• Cathay Consult

Products and services

• Cathay Innovation Fund III A $1 billion AI-dedicated venture capital fund investing in vertical AI solutions across healthcare, fintech, consumer, and energy/mobility sectors for growth-stage technology startups.
• C. Entrepreneurs A dedicated early-stage fund investing in startups reinventing insurance, operated in partnership with BNP Paribas Cardif.
• Cathay AfricInvest Innovation A fund partnering with Africinvest to back African entrepreneurs bringing innovative and inclusive technologies to the continent.
• Cathay InnoSquare A fund of funds backing the next generation of early-stage venture funds.
• Cathay Smart Energy A fund fighting climate change from China with innovative carbon-neutral energy solutions.
• Cathay Cartech & Mobility A fund fueling China's dynamic automotive and mobility ecosystem in partnership with Valeo.
• Cathay Latam Fund A fund investing in Latin American startups redefining industry and society.
• Ledger Cathay Fund A fund investing in companies bringing a secure, decentralized future to the next billion users.
• C.Lab An advisory initiative launched to advise corporations on open transformation in the AI era.
• Cathay Connect Regular exchanges among influential CEOs from Asia, Europe, and the US for knowledge sharing on strategic topics, available exclusively to Cathay Innovation portfolio companies.
• Cathay Consult In-depth strategic guidance, CEO coaching, and management consulting for portfolio companies to become market leaders.

Named customers10 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and major.

• Sage (via Sage Intacct)coreStrategic or Co-development Partner · 16 June 2026Embat partnered with Sage to become the first and only treasury management provider available on the Sage Intacct platform for UK customers, enabling mid-market businesses to integrate banking and ERP data in real-time.
• NHS (UK)majorStrategic or Co-development PartnerTucuvi's LOLA voice AI platform has been deployed in partnership with the NHS in the UK for clinical follow-up and care management workflows.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Sequoia Capital: Multi-stage global VC investing from seed to growth across technology and healthcare, with a similar cross-continent platform and LP base. Both firms compete for AI and fintech category leaders and write comparable growth-stage check sizes.
• Andreessen Horowitz (a16z): Multi-stage US VC with dedicated AI, bio/health, fintech, and crypto funds and a strong corporate LP ecosystem. Directly competes with Cathay Innovation for frontier AI deals such as AMI Labs and for follow-on capital into European AI scale-ups.
• Index Ventures: Pan-European and US multi-stage VC investing from seed to growth in tech, fintech, and health. Highly comparable multi-stage mandate, geographic footprint, and check-size profile across the same target founder base.
• Atomico: European-founded global VC investing growth-stage technology companies with operator-led platform support. Closely comparable in thesis, stage focus, and emphasis on cross-border scaling for European founders.
• Accel: Multi-stage global VC with deep European and US presence and a long track record in software, fintech, and consumer. Competes directly for growth-stage rounds in Europe and for AI category leaders globally.
• Earlybird Venture Capital: Berlin-headquartered European VC with multiple sector-focused funds including digital health and tech. Directly comparable as a multi-stage European platform competing for the same founder pool Cathay Innovation addresses.
• Partech: Paris-headquartered global VC with funds spanning seed to growth across Europe, Africa and emerging markets. Comparable stage range, sector breadth, and European LP base to Cathay Innovation.
• Northzone: European-origin multi-stage VC investing across fintech, consumer, health, and enterprise software. Similar stage flexibility and pan-European footprint, competing for the same Series A-C deals.

Emerging players

• Speedinvest: European multi-stage VC with sector-specialized funds (fintech, health, deep tech, marketplaces). More seed/Series A focused than Cathay Innovation but competes for the same European founder pipeline at earlier stages.

Others

• Bpifrance: French public investment bank that is both an LP in Cathay Innovation funds and a direct investor in French/European startups. Strategic ecosystem counterpart rather than direct competitor, but shapes the same deal landscape.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Cathayinnov
• YouTubeyoutube.com/@cathayinnovation6343
• Facebookfacebook.com/Cathay-Innovation-1138603876164624
• LinkedInlinkedin.com/company/cathay-innovation

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments180 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cathay Innovation