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Cathay Capital

Cathay Capital

Paris, France·cathaycapital.com
AUM
€5.5B
Funds
15
vintages 2007–2024
Portfolio
170
Exits
70

Key facts

HQParis, France

Recent exits

TransCure bioServices
Healthcare · 2026 · 4yr hold
Kayrros
Industrials · 2026 · 8yr hold
Kojin Therapeutics
Healthcare · 2025 · 4yr hold
DIOT-SIACI
Fintech · 2025 · 4yr hold

Coverage notes

15 funds tracked, 240 portfolio companies (170 active · 70 realized). Verified weekly from public filings and deal announcements.

Funds & portfolio

Every fund Cathay Capital has raised, with its portfolio companies. Hand-checked from public filings.

15 funds
Cathay Innovation Fund IIIVC
2024 · 2yr€1.0B20 active

Unrealized

20 held
AMI LabsActive
SoftwareFrance· Entry 2026
AqemiaActive
HealthcareFrance· Entry 2024
HealthcareUnited States· Entry 2026
BeatbotActive
ConsumerChina· Entry 2024
BioptimusActive
HealthcareFrance· Entry 2025
CryptioActive
FintechFrance· Entry 2024
IndustrialsUS· Entry 2024
SoftwareChina· Entry 2026
EmbatActive
FintechSpain· Entry 2026
EntalpicActive
FintechFrance· Entry 2024
Ether.fiActive
FintechUS· Entry 2024
IndustrialsChina· Entry 2026
imaginoActive
SoftwareFrance· Entry 2024
MidasActive
FintechFrance· Entry 2024
NablaActive
HealthcareFrance· Entry 2024
NellyActive
ConsumerFrance· Entry 2025
SoftwareUS· Entry 2026
RangeActive
FintechUS· Entry 2024
TucuviActive
HealthcareFrance· Entry 2026
VambeActive
SoftwareBrazil· Entry 2025
Ledger Cathay FundVC
2022 · 4yr€100M3 active

Unrealized

3 held
AtlasActive
SoftwareFrance· Entry 2025
FintechUS· Entry 2024
SoftwareUS· Entry 2025
Cathay Capital Small Cap IVGrowth
2022 · 4yr€240M5 active

Unrealized

5 held
AveliaActive
HealthcareFrance· Entry 2025
HealthcareChina· Entry 2024
EquadisActive
SaaSSwitzerland· Entry 2026
OnventisActive
SoftwareFrance
HealthcareUS· Entry 2023
Cathay HealthGrowth
2021 · 5yr€500M5 active · 1 realized

Unrealized

5 held
HealthcareFrance
HealthcareFrance· Entry 2022
HealthcareUS· Entry 2021
HealthcareFrance· Entry 2022
TissiumActive
HealthcareFrance· Entry 2021

Realized

1 exit
HealthcareUS· Entry 2021
Write-off
Cathay Capital Midcap IIBuyout
2020 · 6yr€800M14 active · 3 realized

Unrealized

14 held
ConsumerFrance· Entry 2021
ChemspecActive
IndustrialsChina· Entry 2021
ChowSingActive
ConsumerChina· Entry 2021
CPAP.COMActive
HealthcareUS· Entry 2021
DiliTrustActive
SoftwareFrance· Entry 2022
EigencommActive
IndustrialsChina· Entry 2021
ConsumerChina· Entry 2023
MistineActive
ConsumerChina· Entry 2022
ConsumerFrance· Entry 2022
SHPTActive
IndustrialsChina· Entry 2021
SNOCKSActive
ConsumerFrance· Entry 2022
HealthcareChina· Entry 2021
WeNextActive
SoftwareChina· Entry 2021
IndustrialsChina· Entry 2021

Realized

3 exits
ArtefactExited 2024
SoftwareFrance· Entry 2021
Secondaryto
DIOT-SIACIExited 2025
FintechFrance· Entry 2021
Secondaryto
HealthcareFrance· Entry 2022
Trade Saleto
Cathay Smart EnergyVC
2019 · 7yr€130M1 active

Unrealized

1 held
IndustrialsChina· Entry 2023
Cathay Innovation Fund IIVC
2019 · 7yr€650M45 active

Unrealized

45 held
AI RudderActive
SoftwareChina· Entry 2022
AkuaActive
FintechBrazil· Entry 2024
AllsenseActive
IndustrialsChina· Entry 2020
AlmaActive
FintechFrance· Entry 2021
ChatailActive
SoftwareChina· Entry 2021
CloudpickActive
SoftwareChina· Entry 2020
CoherentActive
FintechChina· Entry 2020
ColizeyActive
ConsumerFrance· Entry 2021
DayTwoActive
HealthcareFrance· Entry 2019
FintechFrance· Entry 2020
ConsumerChina· Entry 2019
FastoneActive
SoftwareChina· Entry 2020
FitureActive
ConsumerChina· Entry 2020
FlowdeskActive
ConsumerFrance
FundboxActive
FintechUS· Entry 2019
IndustrialsChina· Entry 2020
GhostActive
SoftwareUS
HeetchActive
IndustrialsFrance· Entry 2019
HenryActive
ConsumerBrazil· Entry 2022
Hok BeeActive
ConsumerChina· Entry 2020
InatoActive
HealthcareFrance· Entry 2019
IziworkActive
SoftwareFrance· Entry 2019
ConsumerChina· Entry 2019
FintechChina· Entry 2019
SoftwareChina· Entry 2019
LeadIQActive
SoftwareChina· Entry 2021
MedwingActive
SoftwareFrance· Entry 2020
MogicActive
SoftwareChina· Entry 2022
MOMENTAActive
IndustrialsChina· Entry 2020
ReFireActive
IndustrialsChina· Entry 2020
HealthcareFrance· Entry 2022
SavanaActive
HealthcareFrance· Entry 2020
HealthcareUS· Entry 2020
Skan.aiActive
SoftwareUS· Entry 2020
SVOLTActive
IndustrialsChina· Entry 2021
TerminalActive
SoftwareUS· Entry 2019
TGhilyteActive
IndustrialsChina· Entry 2020
TungeeActive
SoftwareChina· Entry 2020
UnomiActive
ConsumerChina· Entry 2021
SoftwareUS· Entry 2021
WallboxActive
IndustrialsFrance· Entry 2021
ConsumerFrance· Entry 2021
XepelinActive
FintechBrazil· Entry 2021
FintechChina· Entry 2021
SoftwareUS· Entry 2020
Cathay AfricInvest InnovationVC
2019 · 7yr€110M4 active

Unrealized

4 held
IndustrialsNigeria· Entry 2020
MigoActive
FintechNigeria· Entry 2020
OZÉActive
FintechNigeria· Entry 2022
ConsumerNigeria· Entry 2021
CarTech FundVC
2017 · 9yr€200M10 active

Unrealized

10 held
ABUPActive
IndustrialsChina· Entry 2018
BenewakeActive
IndustrialsChina· Entry 2018
BochuangActive
IndustrialsChina· Entry 2019
FUTURUSActive
IndustrialsChina· Entry 2017
IndustrialsChina· Entry 2021
INTPLOGActive
IndustrialsChina· Entry 2020
JoynextActive
IndustrialsChina· Entry 2020
IndustrialsChina· Entry 2018
WaytousActive
IndustrialsChina· Entry 2019
IndustrialsChina· Entry 2019
Cathay Capital Small Cap IIIGrowth
2016 · 10yr€180M25 active · 12 realized

Unrealized

25 held
AukeyActive
ConsumerChina· Entry 2020
ConsumerChina· Entry 2018
BrosmedActive
HealthcareChina· Entry 2020
DeermaActive
ConsumerChina· Entry 2020
EasyVistaActive
SoftwareFrance· Entry 2020
FaponActive
HealthcareChina· Entry 2020
SoftwareFrance· Entry 2020
GangtongActive
HealthcareChina· Entry 2020
ConsumerChina· Entry 2020
ConsumerChina· Entry 2020
SoftwareChina· Entry 2018
IndustrialsChina· Entry 2019
JIUYEActive
SoftwareChina· Entry 2018
JUVAActive
HealthcareChina· Entry 2017
Le WagonActive
ConsumerFrance· Entry 2020
ConsumerUS· Entry 2019
OrderPlusActive
SoftwareChina· Entry 2019
PackgeneActive
HealthcareChina· Entry 2020
HealthcareChina· Entry 2018
ConsumerChina· Entry 2020
TaclinkActive
IndustrialsChina· Entry 2020
HealthcareChina· Entry 2020
WonderLabActive
ConsumerChina· Entry 2020
YeelightActive
ConsumerChina· Entry 2018
YIMIDIDAActive
IndustrialsChina· Entry 2017

Realized

12 exits
Biose IndustrieExited 2024
HealthcareFrance· Entry 2020
Trade Saleto
CaillauExited 2025
IndustrialsFrance· Entry 2018
Secondaryto
E. WinkemannExited 2023
IndustrialsFrance· Entry 2018
Trade Saleto
Finance ActiveExited 2024
FintechFrance· Entry 2019
Trade Saleto
HaveaExited 2023
ConsumerFrance· Entry 2017
Secondaryto
IntelliBioExited 2023
HealthcareChina· Entry 2019
Trade Sale
LABELIUMExited 2021
SoftwareFrance· Entry 2018
Secondaryto
HealthcareFrance· Entry 2019
Trade Saleto
NeoXamExited 2023
SoftwareFrance· Entry 2018
Secondaryto
SoocasExited 2023
ConsumerChina· Entry 2018
Trade Sale
The IndependentsExited 2023
SoftwareFrance· Entry 2017
Secondaryto
ZongtengExited 2023
SoftwareChina· Entry 2018
Trade Sale
Cathay Innovation Fund IVC
2016 · 10yr€290M13 active · 7 realized

Unrealized

13 held
ConsumerChina· Entry 2017
SoftwareUS· Entry 2016
CHIMEActive
FintechUS· Entry 2017
FinalcadActive
SoftwareFrance· Entry 2018
LECHEBANGActive
IndustrialsChina· Entry 2017
LedgerActive
SoftwareFrance· Entry 2018
OnTruckActive
IndustrialsFrance· Entry 2018
OWKINActive
HealthcareFrance· Entry 2017
PEEKActive
SoftwareUS· Entry 2018
SoftwareUS· Entry 2016
SXLActive
SoftwareChina· Entry 2018
TU BO SHIActive
ConsumerChina· Entry 2018
UshopalActive
SoftwareChina· Entry 2016

Realized

7 exits
ALKEMICSExited 2023
SoftwareFrance· Entry 2016
Trade Saleto
IndustrialsFrance· Entry 2016
Trade Saleto
GLOVOExited 2022
ConsumerFrance· Entry 2017
Trade Saleto
KayrrosExited 2026
IndustrialsFrance· Entry 2018
Trade Saleto
Meet YouExited 2020
ConsumerChina· Entry 2015
Secondary
PDDExited 2018
ConsumerChina· Entry 2016
IPO
TrifactaExited 2022
SoftwareUS· Entry 2015
Trade Saleto
C. EntrepreneursVC
2016 · 10yr€50M16 active · 4 realized

Unrealized

16 held
SoftwareFrance· Entry 2017
BeemActive
IndustrialsFrance
SoftwareFrance· Entry 2018
CoverfyActive
FintechFrance· Entry 2018
CurveActive
FintechFrance· Entry 2019
FacilyActive
ConsumerBrazil· Entry 2020
FirstVetActive
SoftwareFrance· Entry 2020
HousfyActive
ConsumerFrance· Entry 2019
IglooActive
FintechChina· Entry 2020
KueskiActive
FintechBrazil· Entry 2019
LanaActive
FintechFrance· Entry 2020
LifepalActive
FintechChina· Entry 2021
SoftwareUS· Entry 2018
PayflowActive
FintechFrance· Entry 2022
QoverActive
FintechFrance· Entry 2021
ReebeloActive
ConsumerChina· Entry 2021

Realized

4 exits
DatasineExited 2021
SoftwareFrance· Entry 2017
Trade Saleto
PaycarExited 2021
FintechFrance· Entry 2016
Write-off
SaagieExited 2025
SoftwareFrance· Entry 2017
Trade Saleto
StratumnExited 2021
FintechFrance· Entry 2017
Write-off
Cathay Capital Midcap IBuyout
2014 · 12yr€500M7 active · 15 realized

Unrealized

7 held
ABVActive
ConsumerUS· Entry 2016
ConsumerChina· Entry 2016
CCDIActive
IndustrialsChina· Entry 2015
ConsumerUS· Entry 2016
JiuhetangActive
HealthcareChina· Entry 2018
PowellActive
SoftwareFrance· Entry 2025
WSTActive
IndustrialsFrance· Entry 2016

Realized

15 exits
ABSExited 2022
ConsumerChina· Entry 2016
Trade Sale
ATIExited 2022
IndustrialsFrance· Entry 2016
Trade Sale
ByzanceExited 2020
ConsumerFrance· Entry 2014
Trade Sale
CabioExited 2021
IndustrialsChina· Entry 2015
IPO
CenexiExited 2023
HealthcareFrance· Entry 2015
Trade Saleto
DatawordsExited 2024
SoftwareFrance· Entry 2015
Trade Saleto
EchosensExited 2018
HealthcareFrance· Entry 2015
Secondaryto
EquativExited 2021
SoftwareFrance· Entry 2015
Secondaryto
ConsumerChina· Entry 2016
Trade Sale
OrigeneExited 2021
HealthcareChina· Entry 2015
Trade Sale
SeaOwlExited 2021
IndustrialsFrance· Entry 2015
Trade Sale
ShenghuoExited 2020
HealthcareChina· Entry 2014
Trade Sale
SINO-KORExited 2021
ConsumerChina· Entry 2015
Trade Sale
YUANMAIExited 2022
ConsumerChina· Entry 2016
Trade Sale
ZBOMExited 2017
ConsumerChina· Entry 2014
IPO
Cathay Capital Small Cap IIGrowth
2010 · 16yr€90M2 active · 18 realized

Unrealized

2 held
YOLOOActive
IndustrialsChina· Entry 2012
IndustrialsChina· Entry 2013

Realized

18 exits
AMPLITUDEExited 2019
IndustrialsFrance· Entry 2012
Trade Saleto
BANDWEAVERExited 2018
IndustrialsChina· Entry 2012
Trade Sale
CMRExited 2017
IndustrialsFrance· Entry 2011
Trade Sale
eBaoExited 2018
SoftwareChina· Entry 2012
Trade Sale
FLEXITALLICExited 2017
IndustrialsFrance· Entry 2013
Trade Sale
Ginger CEBTPExited 2017
IndustrialsFrance· Entry 2013
Secondaryto
HAOLIFANGExited 2016
ConsumerChina· Entry 2011
Trade Sale
IMVExited 2016
IndustrialsFrance· Entry 2010
Trade Sale
JURATOYSExited 2017
ConsumerFrance· Entry 2011
Trade Sale
KIDSLANDExited 2017
ConsumerChina· Entry 2012
IPO
MAUBOUSSINExited 2016
ConsumerFrance· Entry 2010
Secondary
MEINIANExited 2015
HealthcareChina· Entry 2013
IPO
MINAFINExited 2017
HealthcareFrance· Entry 2011
Trade Sale
MONCLERExited 2013
ConsumerFrance· Entry 2011
IPO
PotenExited 2018
IndustrialsChina· Entry 2012
Trade Sale
SOLIAExited 2016
ConsumerFrance· Entry 2010
Trade Sale
SURYSExited 2019
SoftwareFrance· Entry 2013
Trade Saleto
VULCANICExited 2017
IndustrialsFrance· Entry 2011
Trade Sale
Cathay Capital Small Cap IGrowth
2007 · 19yr€70M0 active · 10 realized

Realized

10 exits
HealthcareFrance· Entry 2008
Trade Sale
DESSANGEExited 2015
ConsumerFrance· Entry 2009
Secondary
DOTSOFTExited 2015
SoftwareFrance· Entry 2009
Trade Sale
EUROGERMExited 2017
IndustrialsFrance· Entry 2009
Trade Saleto
FREMAUX DELORMEExited 2014
ConsumerFrance· Entry 2008
Trade Sale
MiroExited 2014
IndustrialsChina· Entry 2008
Trade Sale
SINDERExited 2014
HealthcareChina· Entry 2008
Trade Sale
SOGALExited 2016
ConsumerFrance· Entry 2009
Trade Sale
SUOFEIYAExited 2012
ConsumerChina· Entry 2009
IPO
WOLFExited 2015
ConsumerFrance· Entry 2008
Trade Sale
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About Cathay Capital

Cathay Capital is a cross-border private equity and venture firm with €5.5 billion of assets under management as of December 2024, headquartered in Paris with offices in Shanghai, Beijing, Shenzhen, New York and San Francisco. Founded in 2007, the firm specialises in cross-border investments helping European and US companies expand internationally with a particular focus on the China corridor, plus Chinese and Asian companies expanding into Europe and North America. The unique cross-border mandate distinguishes Cathay from regional-focused peers.

Investment thesis

Cathay deploys capital across complementary strategies including mid-market LBO (Cathay Capital PE) and late-stage technology venture (Cathay Innovation), with sectors spanning Consumer, Industrials, Software, Fintech and Healthcare. The platform's cross-border value-add focuses on supporting portfolio companies through international expansion, sourcing partnerships and operational capabilities across the three core regions of France-China-US. Equity ticket sizes vary by strategy from venture-stage early commitments through to mid-cap LBO majority equity positions of €20 million to €150 million.

Recent activity

Recent realised exits include TransCure bioServices (healthcare, 2026), DIOT-SIACI (fintech, 2025), Saagie (software, 2025), Artefact (software, 2024), Biose Industrie (healthcare, 2024) and Datawords (software, 2024), reflecting active distribution across the cross-border franchise. The platform tracks 15 funds, 167 active portfolio companies and 68 realised exits across multiple investment cycles. Detailed buyer names and multiple data available on Pro at €29/month.

Last updated May 2026 · Sourced from public filings