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VC FundPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 9 SOURCES

Cathay Innovation

Venture capital firm of the Cathay Capital group Cathay Capital

Paris multi-stage VC founded in 2015 within the Cathay Capital group; backed by 20+ corporate LPs; invests in Europe, the Americas, Asia and Africa; states €2.5B AUM.

HEADQUARTERS
Paris, France
FOUNDED
2015
AUM
€2.5B (2026)
OUTSIDE CAPITAL
Yes
TEAM LISTED
12 people

Focus

STAGES
SeedSeries ASeries BGrowth
SECTORS
Artificial IntelligenceHealthTechFintechConsumer & E-commerceClimate & EnergyMobility & LogisticsCrypto & Web3Deep Tech
ASSET MIX
Venture capitalFunds (as LP)
GEOGRAPHY
EuropeNorth AmericaAsia-PacificLatin AmericaAfrica

Overview

Cathay Innovation is a multi-stage venture capital firm founded in Paris in 2015 as part of the Cathay Capital group, led by founder and chairman Mingpo Cai and co-founder and CEO Denis Barrier. It states over €2.5B under management, more than 20 corporate LPs and 120+ startups backed, investing across Europe, North America, China, Latin America, Southeast Asia and Africa. Focus areas are AI, digital health, fintech, consumer and retail, energy and mobility, crypto and robotics. Portfolio companies include Chime, Pinduoduo, Momenta, Ledger, Glovo, Moonshot AI and Nabla.

PORTFOLIO (15)

  • LedgerNOTABLE
    Crypto & Web3 · since 2018
  • MomentaNOTABLE
    Mobility & Logistics · since 2017 · IPO
  • ChimeNOTABLE
    Fintech · since 2017 · IPO
  • PinduoduoNOTABLE
    Consumer & E-commerce · since 2017 · IPO
  • Skan AI
    Artificial Intelligence · since 2026
  • Moonshot AI
    Artificial Intelligence · since 2026
  • AMI Labs
    Artificial Intelligence · since 2025
  • Logical Intelligence
    Artificial Intelligence · since 2025
  • Galaxea
    Deep Tech · since 2025
  • Nabla
    HealthTech · since 2024
  • Bioptimus
    Biotech & Life Sciences · since 2024
  • PalmPay
    Fintech · since 2021
  • Glovo
    Consumer & E-commerce · since 2017 · Acquired
  • Owkin
    HealthTech
  • Alma
    Fintech

People

  • Mingpo Cai
    Founder & Chairman · source
  • Denis Barrier
    Co-Founder & CEO · source
  • Jacky Abitbol
    Managing Partner · source
  • Lanchun Duan
    Managing Partner · source
  • Daniel Balmisse
    Managing Partner, Cathay InnoSquare (Fund of Funds) · source
  • Nicolas Du Cray
    Partner · source
  • Bruno Delahaye
    Partner · source
  • Rajive Keshup
    Partner · source
  • Simon Wu
    Partner · source
  • Federico Gómez Romero
    Head of Cathay Latam Fund · source
  • Matthieu Soulé
    Partner, Head of C.Lab · source
  • Linda Sor
    CFO · source

Links

Frequently asked questions

Cathay Innovation is a VC fund based in Paris, France, founded in 2015.

Yes. Cathay Innovation invests its own capital in private companies.

Cathay Innovation invests at Seed, Series A, Series B and Growth stages in Artificial Intelligence, HealthTech, Fintech, Consumer & E-commerce, Climate & Energy, Mobility & Logistics, Crypto & Web3 and Deep Tech.

Key people at Cathay Innovation include Mingpo Cai (Founder & Chairman), Denis Barrier (Co-Founder & CEO), Jacky Abitbol (Managing Partner) and Lanchun Duan (Managing Partner).

Cathay Innovation's investments include Ledger, Momenta, Chime, Pinduoduo, Skan AI, Moonshot AI, AMI Labs and Logical Intelligence, among others.

The most recent publicly reported investment by Cathay Innovation is Skan AI ($63M round co-led by Cathay Innovation and Dell Technologies Capital), announced in Aug 2026.

Yes. Cathay Innovation manages capital from outside investors.