Cathay Innovation successfully secures $1 billion for a specialized AI fund, aiming to accelerate Europe's industrial transformation through artificial intelligence.
Cathay Innovation Closes €1B Venture Capital Fund, III
Cathay Innovation, a leading European venture capital firm, has announced the final close of its latest fund, Fund III, at €1 billion. This makes it the largest AI-dedicated fund to emerge from the European Union.
The fund, which has deployed €235M across 14 investments, focuses on vertical AI solutions in four key sectors: digital health, fintech, consumer, and mobility/energy. Half of the fund's investments are based in Europe, reflecting Cathay Innovation's commitment to supporting local startups.
Cathay Innovation has earned the title of the largest French private VC investor per capital deployed into local startups in 2024. This achievement underscores the firm's significant impact on the French startup ecosystem.
The fund boasts strategic partnerships, co-investments, and other business development opportunities with various corporations. This extensive network provides startups with valuable opportunities for deeper industry collaboration. Cathay Innovation's global platform connects startups with its corporate ecosystem, a broad network of corporations spanning Europe, the U.S., and Asia.
The firms that have joined the Cathay Innovation Fund III as investors include Castle Island Ventures, Ledger Cathay Capital, RockawayX, Amber Group, and Sats Ventures. This diverse base of institutional investors and multinational corporations underscores the confidence in Cathay Innovation's approach to venture capital.
Cathay Innovation is headquartered in Paris but invests across the globe. With Fund III, the firm continues its mission to identify and support the most promising AI-driven startups, providing them with the capital and resources they need to scale and succeed.
As Cathay Innovation moves forward with Fund III, it is poised to continue its impact on the global startup ecosystem, driving innovation and growth in the AI sector.
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