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Testimonials

  • cathay capital innovation« Our open innovation partnership with Cathay Innovation is like a passport to China. It allows us to benefit from their strong local deal flow and to possibly co-invest. The fund is a unique platform for introductions to the best innovative companies and gives us the capacity to do real business development with them. »

    François-Xavier Meyer,
    Vice-president of SEB Alliance

  • cathay capital innovation« A good investor is not only a lubricant and a catalyst for portfolio companies’ activities, but also a close and trustworthy partner on the road to success. Cathay Capital is such an investor! »

    Tingjun YOU,
    Founder and CEO of LUMI

  • cathay capital innovation« We are delighted to have Cathay Capital as partner supporting our global growth. Our strategic visions are perfectly aligned and we are excited to achieve dynamic growth on multiple continents as we develop innovative ergonomic and mounting solutions to satisfy expanding demand for products that improve health, wellness and productivity.  »

    David Fox ,
    CEO of Innovative Office Products

  • cathay capital innovation« The strategic positioning of Cabio is to become an invisible champion of the niche market for high-end food ingredients based on highly effective biological technology. Cathay Capital has extensive resources and practical experience in the cross-border investment field and food industry, which will provide a strong support for Cabio`s development, especially in helping the company’s development on international market. We are confident that together with Cathay Capital, Cabio will be developed into a world-class provider for premium nutrition and food ingredient solutions. »

    Dewei Yi,
    Founder and President of Cabio

  • cathay capital innovation« By acting as a trusted shareholder, Cathay Capital has helped to strengthen mutual understanding and to secure our relationships with French partners. Thanks to Cathay Capital’s valuable role, Suofeiya today represents a real success story, which has successfully completed its IPO and continues to push forward its development with dynamism. »

    Ke Jiansheng,
    Suofeiya

  • cathay capital innovation« The close involvement of the Cathay Capital team with our activities allowed us to pursue our growth at a sustained level and to reach a higher level in terms of our international development, particularly in Asia. »

    Alexandre Crazover,
    Datawords

News

  • Medifa healthcare welcomes Cathay Capital to accelerate its international growth Read more

    Medifa healthcare welcomes Cathay Capital to accelerate its international growth

    On July 24th 2019, Cathay Capital, a leading international private equity firm focused on cross-border investment and committed to supporting the international expansion of middle-market companies in Europe, North America, and China, acquired a minority share in medifa healthcare group, a global designer and manufacturer of turnkey modular operating room (“OR”) systems, mobile OR tables and accessories for operating theatres and other sanitized facilities as well as high-end medical stainless steel components. With approximately EUR 3 billion in assets under management and branches in Paris, Munich, New York, San Francisco, Shanghai and Beijing, Cathay will support the international growth of medifa healthcare group GmbH thanks to its extensive network as well as in-depth experience in buy-and-build strategies. The management team of the medifa group remains unchanged.

    "Since taking over the production unit of the world leading producer of operating tables in 2015, and the acquisition of medifa KG in Finnentrop in 2017, the medifa healthcare group has experienced enormous growth. As the market for medical equipment continues its globalization, we too will spread our international presence whilst adding innovative products to our offering. With Cathay Capital’s support, the medifa group is perfectly positioned to realize its growth strategy", explains Dr. Wolfgang Hohnhaus, Managing Partner of the medifa healthcare group.

    "medifa is already an internationally successful company with state-of-the-art products and the most competitive offering on its segment. We intend to strengthen the brand sustainably by expanding the company’s international footprint as well as extending its activities and product portfolio by seizing M&A opportunities. Cathay will leverage its know-how, ecosystem, and global setup simultaneously, especially in China, to accelerate medifa’s international development, grow its client portfolio and support the company’s objective of expanding its global leadership through close collaborations between our respective local resources", says Ming-Po Cai, Founder and President of Cathay Capital. As of now, the co-operation will be managed by Cathay’s German team in Munich.

    "Cathay Capital’s network is a valuable building block for us to successfully strengthen our participation in the medical technology sector. We are very much looking forward to the new opportunities arising from the close cooperation with partners, customers and the entire Cathay team," explains Christian Keller, Managing Partner of medifa healthcare group GmbH.

    The medifa Healthcare Group employs around 350 people at three locations in Germany. Planning, engineering and production are done 100% in-house, exclusively in Germany. In addition, more than 90% of value-add are accomplished within the group, ensuring short reaction times to satisfy flexible customer demand.

    Under the motto "we care", medifa® understands the consistent orientation towards customer needs. On a global basis, medifa’s customers can rely on first-class consulting and services, product delivery and project execution as well as quality and performance from one single source "Made in Germany" in accordance with certified national and international quality standards.

    ***

    Media Contacts

    medifa Communication                                                Cathay Capital

    Marianne Rohrmoser                                                   Yoann Besse

    Head of Marketing                                                         Yoann.besse@citigatedewerogerson.com

    m.rohrmoser@medifa.com                                       +33 (0)6 63 03 84 91

    +49 (0) 151 67116 031

    ***

    Sellers and acquirers

    medifa Healthcare Group: Dr. Wolfgang Hohnhaus, Christian Keller

    Cathay Capital: Jérémie Falzone, Ralph Karg, Steffen Prochazka

    Sell-side advisors

    Financial Advisor – Quarton, a Cowen Company: Dr. Konstantin Schönborn, Dr. Lars Veit, Anette Cooper, Dr. Uwe Lenk

    Legal – Milbank & Partners: Dr. Martin Erhardt, Dr. Michael Pujol, Lucas Kleinschmitt

    Buy-side advisors

    Financial & Tax Due Diligence – PwC: Stefan Saalfrank, Christian Tempich, Stefanie Tielemann, Thomas Kelly, Stefan Dellinger

    Commercial & Strategic Due Diligence – Roland Berger: Oliver Rong, Christopher Huth, Julien Gautier, Charles Colrat, Yifei Lin, Thibault Dussueil, Emma Bethouart, Artur Kazak

    Legal & Structuring – Allen & Overy: Dominik Stühler, Dr. Kai Terstiege, Tobias Hoppe, Elisabeth Pichler

    About medifa healthcare group

    The medifa healthcare group (or “the Company”) is a globally active designer and manufacturer of modular operating room (“OR”) systems, mobile OR tables and accessories applied in turnkey operating theatres and other facilities requiring clean rooms as well as high end medical stainless steel components. The company successfully transformed from contract manufacturer towards mobile OR equipment and infrastructure solutions provider via targeted buy-and-build as basis to position as “One-Stop-Shop” towards end-customers. medifa applies a highly defensible business model given long-term key supplier positioning and high brand awareness among end-users for its quality and durable products. Its product and service portfolio cover the complete range of modular wall, door and ceiling systems (RooSy®: Room Systems), mobile operating tables and accessories, as well as examination chairs for gynecology, urology and proctology. In addition, one of the largest German OEM suppliers in the medical technology sector also belongs to the group. The Company’s geographical footprint is built on three production facilities in Germany and global direct and indirect distribution network. medifa is expected to generate € ~46m sales in 2019 with ~350 employees. More information at: www.medifa.com

    About Cathay Capital

    Cathay Capital Private Equity is a leading international private equity firm focused on cross-border investment and committed to supporting the international expansion of middle-market companies in North America, China and Europe. The firm's team of nearly 90 professionals is based in New York, Shanghai, Beijing, Paris, Munich and San Francisco and leverages its unique business model and platform to create value for companies across three continents. With more than €2.8 billion in assets under management, Cathay Capital Private Equity has completed over 100 buyouts and growth capital investments across three continents since its inception in 2007. Cathay Capital Private Equity invests in and assists middle-market companies in the consumer goods and services, healthcare, business services and technology industries. For more information, please visit www.cathay.fr

  • Laiye Technology Launches UiBot to Enter RPA Market, Closing Series B+ with $35M Read more

    Laiye Technology Launches UiBot to Enter RPA Market, Closing Series B+ with $35M

    Beijing, June 27, 2019

    Laiye announces that it has closed its Series B+ financing round with US$35 million led by Cathay Innovation. Existing investors, Wu Capital and Lightspeed China Partners (LCP) also participated in this round. Laiye also launched its RPA product line UiBot from its earlier merger with Awesome Technology to charge into the RPA+AI market.

    “Digital workforce will be part of every enterprise, while Robotic Process Automation (RPA) will serve as the infrastructure for automation and artificial intelligence (AI) applications. The core team behind UiBot has unparalleled product development and operational experience in RPA and has built the largest RPA community in China in the past 18 years,”Guanchun Wang, Chairman and CEO of Laiye said, adding that “The synergy between Laiye’s existing AI capabilities, including our chatbot platform product Wulai, and UiBot will allow customers to build bots with both brains and hands so as to significantly improve operational efficiency and reduce labor costs.”

    “After launching UiBot in January this year, we have amassed over 300,000 downloads and 6,000 registered enterprise users. Now we are working with Laiye to build the world’s leading RPA+AI platform. It will surely be an exciting entrepreneurial journey,” according to Li Wei, former CEO of Uibot and now co-CEO & President of Laiye.

    The lead investor of this round, Cathay Innovation, also known as a unique global cross-border investment platform, is committed to supporting visionary entrepreneurs and their executive teams. “I am very positive about Laiye’s vision and technological innovation. I believe that Laiye’s bot platforms and applications will play a significant role in the age of AI transformation for every enterprise. Cathay Innovation will continue to promote collaboration between the fund’s global strategic investor base and Laiye,” Denis Barrier, Co-founder and CEO of Cathay Innovation, said.

    Wu Capital, a family office fund that led Laiye's B round, has been paying close attention to Laiye’s leading role in the digital transformation of traditional industries. “We are pleased to see that Laiye has been continuously expanding their customer base and product innovation with their innovative technology. Smart bots are really starting to improve the efficiency of customer and sales management,” said Rita Zhang, CEO of Wu Capital.

    As the founding partner of Lightspeed China, James Mi has been a backer of Laiye in every financing round since Pre-A and has witnessed the rapid evolution of the team. He said, “It's a pleasure to see that Laiye continues to attract world-class talents to join its forces. This strong combination of RPA and AI will greatly enhance Laiye's enterprise bot product and solution offerings. I believe that the team's steady efforts in expanding its product lines and services will surely be recognized by the market.”

    Dr. Hsiao-Wuen Hon, Corporate Vice President of Microsoft, Chairman of Microsoft’s Asia-Pacific R&D Group, and Managing Director of Microsoft Research Asia, also affirms the success and reputation of Laiye as a valued Azure partner in chatbots and foresees the possibility of a deeper collaboration between Laiye and Microsoft in the space of RPA+AI.

    It is reported that Laiye’s $35M B+ Round Financing is by far the largest in China’s RPA+AI market. The funds obtained will be mainly used for recruiting talents for the R&D and sales of RPA products. The company will also expand its AI capabilities beyond natural language processing, deep learning, and reinforcement learning, and accelerate the commercialization of smart-robot solutions across industries. The whole team at Laiye firmly believes that RPA+AI will help every enterprise realize the potential of human-machine collaboration in this age of artificial intelligence and help each employee to expand their capabilities and improve efficiency, so that the human creativity and innovation can be further unleashed.

  • Cathay Innovation launches its second venture capital fund to act as the trusted global expansion partner of entrepreneurs Read more

    Cathay Innovation launches its second venture capital fund to act as the trusted global expansion partner of entrepreneurs

    Paris, San Francisco, Shanghai, June 18, 2019

    Cathay Innovation today announces the launch of a new investment vehicle, with a first closing at EUR 320 million and a fundraising target of EUR 500 million. The new investment vehicle will allow Cathay Innovation’s team – now strong of 30 members based in Paris, San Francisco, Shanghai – to continue to roll out its successful investment strategy in cutting edge start-ups aiming to lead their market.

    “Cathay Innovation offers an approach that resonates among our investors as we manage to create trust and a collaborative environment between investors, corporates and start-ups. In today’s world, all players must accelerate the diffusion of their innovations to quickly scale up globally, and we have proven that connecting the key ecosystems of innovation in Europe, China and the United States creates value. We are very grateful to the partners that have adhered to this vision and pleased to welcome new investors and corporates in our ecosystem”, explains Mingpo Cai, President of Cathay Capital and co-founder of Cathay Innovation.

    Cathay Innovation invests in tomorrow’s leading tech start-ups at the beginning of the expansion phase, when they are ready to reach new markets and create new industries, services or solutions for the development of a more sustainable world. This new venture fund builds on the success of Cathay Innovation’s first EUR 287m fund with a unique investment philosophy. This first closing of Fund II at EUR 320 million includes the renewed support from investors of the first fund – including such strategic partners as Bpifrance[1], Groupe ADP, Groupe SEB, Michelin, Valeo and GL events, – and the arrival of new partners including Accor, BioMérieux, Dassault, JCDecaux Holding[2], Kering and Pernod Ricard.

    “The world will change more in the next 10-15 years than it has in the last 100 years as a result of the combined impact of digitalization, artificial intelligence, behavioural changes in new generations, and the speed of globalization”, explain Denis Barrier, CEO and co-founder of Cathay Innovation. “Entrepreneurs need to aim higher and set renewed measures for success. Any really ambitious entrepreneur in the world should be aiming for more than just a unicorn status”.

    Since its inception in 2015, Cathay Innovation has demonstrated the results of its approach by its ability to benchmark innovation over 3 continents whatever the market segment and to invest in some of the most interesting opportunities across the 3 regions. Cathay Innovation has thus invested in over 30 early stage companies, with annual gross revenues that already exceed USD 100 billion. Cathay Innovation’s portfolio includes many promising businesses among which Pinduoduo, Chime, KaiOS, Momenta, Kayrros, Glovo, Ledger, Lumi, OnTruck, Owkin, Trifacta.

    Cathay Innovation invests at the beginning of the market expansion stage and removes the complexity of international expansion for emerging tech companies while helping corporate partners think and act like fast-moving start-ups. Cathay Innovation brings together a trusted cross border platform, local market knowledge and deep sector expertise that lead to unparalleled commercial and partnership opportunities.

    Through the new Fund, Cathay Innovation will keep investing in the digital transformation that affects all industries, with a specific focus on key verticals that include the future of commerce, new consumer tech, B2B services, platform opportunities, healthcare, fintech mobility and energy. As our deep desire is also to contribute to the transformation of the economy and to impact society positively, Cathay Innovation is committed to analyze its investments taking into account the Sustainable Development Goals of the United Nations, in order to favor companies with environmental and social benefits that are offering solutions to the challenges of sustainable development.

    [1] Bpifrance invests in equity and through various mandates, in particular within the framework a public Programme of the French State

    [2] The investment holding of the Decaux family

    About Cathay Innovation

    Cathay Innovation is a global venture capital partnership, created in affiliation with Cathay Capital. It was founded around the shared conviction that supporting innovation entrepreneurs by providing them with a platform bridging 3 continents – North America, Europe and China – constitutes a particularly powerful value-creation strategy. As a multi-stage fund, Cathay Innovation partners with visionary entrepreneurs, committed to driving change through technology. Such transformation is accelerated by leveraging Cathay Capital extensive network with corporates and solid experience in operational excellence. Cathay Innovation has offices in San Francisco, Paris, Beijing and Shanghai. To learn more, please visit www.cathayinnovation.com or follow us on Twitter @Cathayinnov.

    About Cathay Capital

    Cathay Capital Private Equity is a leading international private equity firm focused on cross-border investment and committed to supporting the international expansion of middle-market companies in North America, China and Europe. The firm's team of nearly 90 professionals is based in New York, Shanghai, Beijing, Paris, Munich, San Francisco and Tel Aviv and leverages its unique business model and platform to create value for companies across three continents. With more than €2.8 billion in assets under management, Cathay Capital Private Equity has completed over 100 buyouts and growth capital investments across three continents since its inception in 2007. Cathay Capital Private Equity invests in and assists middle-market companies in the consumer goods and services, healthcare, business services and technology industries. For more information, please visit www.cathay.fr

    Media Contacts

    Yoann Besse, +33 (0)1 53 32 78 89, yoann.besse@citigatedewerogerson.com

  • KaiOS Technologies Secures $50 Million of Series B Funding to Connect the Next Billion People Read more

    KaiOS Technologies Secures $50 Million of Series B Funding to Connect the Next Billion People

    KaiOS Technologies, maker of KaiOS, the leading mobile operating system for smart feature phones, announced today $50 million in a Series B funding round led by Cathay Innovation, with continued participation from Kai’s existing shareholders, Google and TCL Holdings. To date, more than 100 million devices running on KaiOS have been shipped, enabling digital transformation in over 100 countries. This investment from Cathay Innovation and other industry leaders will further strengthen Kai’s leadership position in the rapidly growing smart feature phone segment.

    With this Series B, Kai plans to expand into new markets, and to invest in product portfolio research and development. It will also enable Kai to mature its ecosystem by accelerating the growth of the KaiOS developer community.

    “Our mission is to open up new possibilities for individuals, organizations, and society by bringing mobile connectivity to the billions of people without internet in emerging markets, as well as providing those in established markets with an alternative to smartphones,” said Sebastien Codeville, CEO of KaiOS Technologies. “We achieve this by collaborating closely with our business partners, enabling them to transform their business models with exciting new products and offerings, especially for first-time internet users. This Series B round allows us to accelerate these efforts and increase the impact we can make in societies around the world, one phone at a time.

    Kai experienced strong growth in 2018 as it built a presence in new markets such as India and Africa through critical partnerships with companies including Reliance Jio, Google, Facebook, Twitter, Orange, MTN, Qualcomm, and others. According to a recent Counterpoint study, the smart feature phone segment accounted for nearly one-quarter of all handset shipments by Q3 of last year and presents a $28 billion dollar market opportunity in the coming three years, indicating that the global demand for a sophisticated yet cost-effective smartphone alternative is on the rise. Kai aims to transition a substantial portion of the more than 1.5 billion feature phone users to smart feature phones, enabling carriers, manufacturers, developers, and advertisers to create innovative, new business models.

    “KaiOS is already the third mobile OS globally and one of the most impactful tech startups in the world. It has the potential to transform the lives of billions of people by giving them access to the internet for the first time. We are proud to join KaiOS’ fantastic investor base and to lead this round to support the company’s next phase of rapid expansion. We look forward to leveraging our global platform and ecosystem to help accelerate KaiOS’ growth in new markets,” said Denis Barrier, Co-Founder and CEO of Cathay Innovation.

    The team behind KaiOS currently counts more than 260 people and continues to grow rapidly. The company has won several awards, including the Best Mobile Technology Breakthrough at MWC Asia 2018, and was named Best Emerging Tech by Digital Trends at MWC Barcelona 2018. Kai has also received indirect recognition through its integration with the JioPhone, which won Fortune’s Company Changing the World award and Nikkei’s product excellence award

    KaiOS has an optimized user interface for non-touch phones. The platform supports 3G and 4G/LTE, as well as Wi-Fi, GPS, and NFC. It works with chipsets from all major manufacturers including Qualcomm, UNISOC, and MediaTek. KaiOS offers a smooth user experience on devices with as low as 256MB of RAM. Through the KaiOS Developer Portal, app developers can create their own content for KaiOS and have it published in the KaiStore. Using KaiAds, content owners can monetize their apps and services on KaiOS, while brands have the opportunity to reach an entirely new segment of users with their ads.

    About KaiOS Technologies

    KaiOS Technologies powers an ecosystem of affordable digital products and services, and exists to empower people around the world through technology. Its flagship product, KaiOS, is the leading mobile operating system with more than 100 million devices shipped in over 100 countries. Kai’s mission is to open up new possibilities for individuals, organizations, and society by bringing mobile connectivity to the billions of people without internet in emerging markets, as well as providing those in established markets with an alternative to smartphones. KaiOS is based on HTML5 and other open web technologies. Devices running on the platform require limited memory, while still offering a rich user experience through access to apps like the Google Assistant, YouTube, Facebook, Google Maps, and Twitter.

    About Cathay Innovation

    Cathay Innovation is a global venture capital fund, created in affiliation with Cathay Capital Private Equity. It was founded around the shared conviction that supporting digital entrepreneurs by providing them with a platform bridging 3 continents – North America, Europe and China – constitutes a particularly powerful value-creation strategy. As a multi-stage fund, Cathay Innovation partners with visionary entrepreneurs, committed to driving change through technology. Such transformation is accelerated by leveraging Cathay Capital Private Equity's extensive network with corporates and solid experience in operational excellence. Cathay Innovation has offices in San Francisco, Paris, Beijing and Shanghai. To learn more, please visit www.cathayinnovation.com or follow us on Twitter @Cathayinnov.

    KaiOS Media Contact 

    Eletta Leung / Sarah Collins 

    eletta.leung@kaiostech.com / scollins@hoffman.com

    +852 9177-8135 / + 1 (206) 423-6081

    Cathay Innovation Media Contact

    Yoann Besse Yoann.Besse@citigatedewerogerson.com

    +33 (0)1 53 32 78 89 / +33 (0)6 63 03 84 91

    Legal note: Google, Google Maps, YouTube, and other related marks and logos are trademarks of Google LLC.

  • Heetch raises $38 million to accelerate its expansion in France and French-speaking Africa Read more

    Heetch raises $38 million to accelerate its expansion in France and French-speaking Africa

    • Heetch, the Paris-based high-growth ride-sharing platform, has raised $38m in a Series B funding round with Cathay Innovation and Total Ventures alongside the renewed participation from existing shareholders Idinvest Partners, Innov’Allianz, Alven, Felix Capital, and Via-ID.
    • Building on its local roots in the French market, where it competes mainly with international players, Heetch aims to become the leading ride-sharing platform across French-speaking countries.
    • Over the past year, Heetch has accelerated its international development, particularly in Africa, and is now present in 4 countries (France, Belgium, Morocco, Ivory Coast). The company plans to expand in 3 additional countries in 2019 (Algeria, Cameroon and Senegal).
    • To that end, Heetch intends to leverage its fun and alternative DNA as well as its ability to tailor its value proposition to each local market.

    Paris, May 9, 2019

    Heetch confirms the success of its pivot towards professional drivers as the company’s unique DNA continues to support its development in France and beyond. Heetch’s ambition is simple: becoming the leading ridesharing platform across French-speaking markets.

    With this $38 million fundraising, Heetch intends to strengthen its technical teams and accelerate its development in Europe and Africa. Cathay Innovation, Idinvest Partners, Innov’Allianz, Total Ventures, Alven and Felix Capital are participating in the financing. Arma Partners acted as exclusive financial advisor in connection with the transaction.

    "Heetch is highly differentiated in the French ride-sharing market. For a lot of drivers, mobility platforms are distant and impersonal. We stand for the opposite. Heetch is an open and people-centric platform: all drivers can meet us and get in touch with me directly. This is important, because platforms and drivers appear to be foes while there is so much we ought to achieve together. The market is currently not structured in favor of ride-sharing drivers who still have a lot of constraints compared to taxis. It is imperative that we emerge from this opposition, that we work together to create a healthy market that allows everyone to have rewarding careers", said Teddy Pellerin, co-founder of Heetch.

    Heetch operates in 9 cities in France (Paris, Lyon, Lille, Nice, Marseille, Toulouse, Bordeaux, Strasbourg, Nantes) where it is already one of the top 3 players.

    The reasons for this success? Heetch is the favorite brand among 18-30-year olds thanks to a unique positioning that breaks the convention of traditional ride-sharing platforms. With a friendly and less formal mobility solution, Heetch appeals to the younger generations who recognize themselves in this experience-based, lifestyle approach to their urban transportation needs. Beyond getting them from point A to B, a ride with Heetch is an enjoyable part of their day.

     "No one talks to their neighbor on the subway and this is unfortunate in an increasingly individualistic world. At Heetch, we want to transform the driver-passenger relationship to create space for individuals to exchange casually if they wish to do so." added Teddy Pellerin.

    The French market is currently very competitive, but Heetch has managed to grow organically and sustainably, in contrast to other players who consistently rely on discounts and subsidies.

    Focus on French-speaking Africa

    Just over a year ago, Heetch launched its operations in Casablanca, Morocco, in partnership with the country's major taxi unions. Heetch has already become the market leader, establishing itself as the only legal ride-sharing app in the country and is now active in all the major cities (Rabat, Marrakech, etc.).

    "The Maghreb and French-speaking Central and West Africa represent major opportunities for Heetch. In fast-growing cities with limited public transport infrastructure, our service can greatly improve mobility for city dwellers. Given our background, we have a competitive advantage in understanding local cultures and specificities. Yet, we always prefer to partner with a local entrepreneur to create a business that is partly French and partly local," explains Teddy Pellerin.

    Heetch is also about to launch in Algiers, Algeria, this summer. In Central and West Africa, Heetch has chosen the Ivory Coast (Abidjan) as the first test country and plans to launch in Cameroon and Senegal by the end of 2019.

    “We are very proud to join forces with Heetch and its talented team. We are convinced of Heetch's potential and believe in its development strategy in Europe and Africa, a region we monitor closely. Millions of Africans will be able to benefit from Heetch’s services. This investment fits perfectly with our investment thesis around mobility and complements our global portfolio in the space which includes Drivy-Getaround, Momenta, Glovo, and OnTruck," adds Jacky Abitbol, Partner at Cathay Innovation.

    With this additional growth financing raised primarily from financial investors, Heetch retains its status as the only independent player among the leading ridesharing platforms, a choice that will foster the company’s strategic flexibility and ability to seize future opportunities in the large and growing mobility market.

     

    About Heetch

    Heetch aims to make mobility services in large European and African cities more affordable, accessible, easy-going, and responsible. The company was launched in France in 2013 with a sharing economy mindset and set out to solve the urban transportation needs of the younger generations. Heetch pivoted successfully to a professional driver model at the beginning of 2017, with the ambition of breaking the mold of uniformity and commodity of the ride-sharing sector. The Heetch experience is less formal, you experience the journey as an enjoyable part of your day and an opportunity to interact with your driver. The experience is also more responsible, with Heetch creating a healthy and safe environment for all drivers on the platform. Heetch currently operates in France, Belgium, Morocco and Ivory Coast, with plans to launch in many more European and African cities in the near future.

    For more information, visit us at www.heetch.com, on Twitter @Heetch or Facebook.

    About Cathay Innovation

    Cathay Innovation is a global venture capital fund, created in affiliation with Cathay Capital Private Equity. It was founded around the shared conviction that supporting digital entrepreneurs by providing them with a platform bridging 3 continents – North America, Europe and China – constitutes a particularly powerful value-creation strategy. As a multi-stage fund, Cathay Innovation partners with visionary entrepreneurs, committed to driving change through technology. Such transformation is accelerated by leveraging Cathay Capital Private Equity’s extensive network with corporates and solid experience in operational excellence. Cathay Innovation has offices in San Francisco, Paris, Beijing and Shanghai.

    To learn more, please visit www.cathayinnovation.com or follow us on Twitter @Cathayinnov

    About Idinvest

    Idinvest Partners is a leading European mid-market private equity firm. With €8bn under management, the firm has developed several areas of expertise including innovative startup venture capital transactions; mid-market private debt, i.e. single-tranche, senior and subordinated debt; primary and secondary investment and private equity advisory services. Founded in 1997, Idinvest Partners used to belong to the Allianz Group until 2010, when it branched out as an independent firm. In January 2018, Idinvest Partners became a subsidiary of Eurazeo, a leading global investment company, with a diversified portfolio of €17bn in assets under management, including approximately €11bn from investment partners, invested in over 350 companies.

     

    Media Contacts

    Heetch

    Teddy Pellerin (CEO)

    press@heetch.com / teddy@heetch.com  

    Cathay Innovation

    Yoann Besse - Citigate Dewe Rogerson                            

    Yoann.besse@citigatedewerogerson.com; +33 6 63 03 84 91

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