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Cathay Capital Reaches USD359 Million First Close for Second Venture Fund

Global private equity fund manager Cathay Capital Private Equity has reached a first close for its second venture fund, Cathay Innovation Fund II, with EUR320 million (approximately USD359 million) in capital commitments. Investors in the fund include Bpifrance, Groupe ADP, Groupe SEB, Michelin, and Valeo—all of which previously committed to Cathay’s first venture fund—as well as Accor, BioMérieux, Dassault, JCDecaux, and Pernod Ricard. Cathay Innovation Fund II, which is seeking total commitments of EUR500 million (USD561 million), will invest in innovative technology startups based in China, Europe, and the United States.