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cathay capital

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Testimonials

  • 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

  • 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 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, »

    Dewei Yi,
    Founder and President of Cabio

News

  • Kayrros Secures $24M in Series B Funding to Expand Energy Market Penetration New funding deepens the company’s crude oil market intelligence and expands its coverage across other energy markets that include petroleum products, natural gas, and power generation. Read more

    Kayrros Secures $24M in Series B Funding to Expand Energy Market Penetration

     Kayrros Secures $24M in Series B Funding to Expand Energy Market Penetration

    New funding deepens the company’s crude oil market intelligence and expands its coverage across other energy markets that include petroleum products, natural gas, and power generation

    PARIS, 18 September 2018 – Kayrros, the leading advanced data analytics firm, today announced that it has raised €21 million ($24.4 million) in Series B funding led by Cathay Innovation and backed by private investors including Index Ventures, AtlasInvest (the investment company under the lead of Marcel van Poecke), the Primat Family Office (Primwest), and Korelya Capital. Kayrros has now raised a total of €32 million ($37 million) from all funding rounds.

    Kayrros captures and analyzes data across the energy sector using innovative technologies that include satellite imagery, natural language processing, Internet of Things, and machine learning. Combining technology with in-house energy expertise, Kayrros provides accurate and timely information on global market movements to help customers make more informed trading, investment, and operational decisions.

    Kayrros has already established itself as a global leader in providing crude oil intelligence. The latest round of funding will allow Kayrros to further strengthen its coverage of the global crude oil value chain from production and storage through transport and consumption. Kayrros expects to bring new granularity across energy markets, and expand to other sectors including petroleum products, power generation, natural gas, and renewables.

    “We are pleased to have secured our Series B funding as well as the confidence and backing of Cathay Innovation,” said Antoine Rostand, president and co-founder of Kayrros. “As we continue to rapidly grow, we look forward to developing our product offering and extending the leadership we have built with our unique crude oil intelligence to the complete energy market, from demand for diesel fuel in

    India to production of lithium in Chile.”

    Jacky Abitbol, partner at Cathay Innovation, added: “We are very proud to support Kayrros write a new page in its success story. In addition to the strength of its management, we believe that Kayrros has tremendous growth potential as a global company. We know Kayrros’ industry quite well given our existing partnerships in the energy sector. We look forward to supporting the Kayrros team through our platform bridging Europe, Asia and North America.”

    Since 2016, Kayrros has steadily carved a niche for itself as a cutting-edge data analytics firm in the energy sector and expanded its team from 8 to 100 engineers and scientists — strengthening its expertise in energy and data science, IT, petroleum engineering, sales, and marketing. Kayrros raised €9 million in Series A funding in January 2017 led by Index Ventures, allowing the company to attract some of the largest energy trading companies as customers and rapidly increase its global presence with new offices in Houston, London, and Singapore.

    “The Kayrros team is led by some of the most experienced executives from the energy and technology industries,” said Dominique Vidal, partner at Index Ventures. “It has already brought an unprecedented level of transparency to the energy sector through its proprietary data sets. For the first time ever,

    companies can make reliable assessments and predictions about the world’s supply and demand for energy. It is therefore no surprise that Kayrros has already signed up customers who represent half of the world’s crude oil trading volume.”

    Paul Degueuse, partner at Korelya Capital, also commented: “Kayrros has already radically enhanced data accessibility across the energy sector, and we at Korelya Capital are eager to support them as they expand to East Asia.”

     

    About Kayrros

    Kayrros is the leading advanced data analytics company that helps global energy market players make better investment decisions. Kayrros experts extract value from the integration of alternative and market data into unique product offerings across the energy chain. With more than 100 employees representing over 15 nationalities working from headquarters in Paris and offices in Houston, London, New York and Singapore, Kayrros delivers actionable information in near real-time using cutting-edge technologies. Kayrros solutions are rapidly scalable and continually expanded to new geographies and new sources of data that help provide greater transparency into energy markets worldwide. For more information, please visit www.kayrros.com.

    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.

    Media Contacts

    For Kayrros: Simone Pugliese, +33 (0)6 33 22 58 42, s.pugliese@kayrros.com For Cathay Innovation:

    Laurence Duhamel, +33 (0)7 60 90 89 18, laurence.duhamel@citigatedewerogerson.com

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

  • Cathay Innovation invests in website and mini-program editor SXL Cathay Innovation today announces its lead on series A+ funding round of website and mini-program editor SXL. Read more

    Cathay Innovation invests in website and mini-program editor SXL

    Cathay Innovation invests in website and mini-program editor SXL

     

    Cathay Innovation today announces it led the series A+ funding round of website and mini-program editor SXL, with participation from Cash Capital. As the first Chinese start up incubated by Y Combinator, SXL has launched a simple, intuitive and easy-to-use website and mini-program editor as well as other web products and services. Following this round of financing, the company also released a new product, the "Super Cloud Business Card".

    Since the creation of the company, the R&D team of SXL has been dedicated to helping users from more than 200 countries manage their online platforms. As the first generation of mini-program editor, the company has launched a great variety of mini-program templates over the past year, including for e-commerce, food ordering, reservations, etc., covering all possible types of mini-programs in various industries. SXL is currently at the leading position in terms of number of mini-programs designed compared to its competitors. The company also enjoys a good reputation among its users and has received positive feedbacks from the market.

    Official release of the “Super Cloud Business Card” in six major industries

    Following the completion of this new round of financing, SXL launched its latest product, the “Super Cloud Business Card”, which is an innovation and breakthrough adding up to their website and mini-program editor. It is in fact the first time that a product combines an electronic business card and sales function in a single mini-program.

    The “Super Cloud Business Card” is a smart mini-program that displays products, provides name cards and communicates online without being added to contacts. Not only does it provide entrepreneurs with more accurate promotion and sales models but it also offers data analysis. The AI-driven "Super Cloud Assistant" tracks the behaviors of the card owners in real time, helping sales teams to better understand customers' intentions.

    SXL is very optimistic about the upcoming sales figures of the mini-program. Last November, SXL tested it internally and provided the sales industry with some samples. They found out that despite a fierce competition, other products of this type are too simplistic to really solve issues within the sales industry. They hope to enter the market with a product that really works. After a series of improvements, the “Super Cloud Business Card” was born: it covers sales management in six major industries, including financial services, insurance, automobile, and manufacturing via a mini-program. It aims to help these major industries gaining more costumers.

    The CEO of SXL, Mr David CHEN, said: "As a website and mini-program editor, we have accumulated a lot of experience in corporate services and users’ data, which both help us consolidating our current market positions. But this market has just started its warm-up: as of the end of September 2017, mainland China counted nearly 30 million companies, showing that the market capacity is large. This is why every player is on the starting line and the Super Cloud Business Card is just a cut-through. We are confident that we can become the leading player on the corporate services market, through competitive products and excellent marketing capabilities."

    Lanchun DUAN, Managing Partner at Cathay Capital, added: "The mini-program has emerged as a very promising mobile app over the past two years. With its openness and uniqueness, the mini-program has developed rapidly in various fields such as games, e-commerce, tools and services. SXL is catching this trend with the launch of the Super Cloud Business Card mini-program in six major industries which need new sales management solutions to expand their client base. The team has a clear strategy, efficient execution plans, excellent program development capabilities, a genuine international vision and good product realization capabilities. Cathay is very optimistic about the development trend of mini-programs and will use its extensive resources in the consumer retail industry to empower SXL and help the company find more opportunities in corporate services."

    At the 30th August funding round and product release conference, Shifeng DU, Director of Amazon AWS's Tech Eco-partnership Department, announced that AWS and SXL will carry out a strategic cooperation, that AWS will strongly recommend SXL’s SaaS products to companies and users and that as the fruit of this cooperation, the Super Cloud Business Card will benefit from the core resources of the two parties. AWS's own brand promotion is also exploring cooperation with the “Super Cloud Business Card”. In addition, SXL launched the “Bajie Cloud Station” in collaboration with its strategic partner Zhubajie to provide its customers with SaaS website and mini-program solutions and to more capacities in the sales of companies.

  • Cathay Capital leads series B funding round of Brass Master Brass Master today announces it has raised RMB 310 million (about €39m) as part of a series B funding round which was led by Cathay Capital through its Small Cap fund. Read more

    Cathay Capital leads series B funding round of Brass Master

    Cathay Capital leads series B funding round of Brass Master

    Brass Master today announces it has raised RMB 310 million (about €39m) as part of a series B funding round which was led by Cathay Capital through its Small Cap fund, with participation from GX Capital and Yunmu Capital. Investors which participated in the series A funding round - Shunwei Capital, Xiaomi Investment and Haiquan Fund - continue to endorse the company.

    Founded by Guang YU and part of Hangzhou Xijiang Culture & Creative Corp., Brass Master focuses on designing and producing brass works. Hangzhou Xijiang Culture & Creative Corp. also owns brands such as Bronze Wood, which is dedicated to developing the online furniture market, and Master XI, which develops offline channels for the future. Guang YU calls this portfolio a “troika” and hopes this new funding round will help it grow faster in the future.

     

    (Master piece of Brass Master: Yunchang GUAN)

    Since its creation 4 years ago, Brass Master has been relying on the Internet, cultural innovation and traditional manufacturing to grow. It has maintained an annual growth rate of more than 100%, its income exceeded RMB 250 million (€32m) last year and the company is expected to complete more than RMB 600 million (€76m) in sales in 2018.

    Lanchun DUAN, Managing Partner at Cathay Capital, commented: “The new generation in China is pursuing a better quality of life which can be observed through their demand for a better household. However, the market lacks quality products with fair prices, offering many business opportunities. Brass Master accurately penetrates this market segment, winning customers with ultimate quality and high cost-performance products. At the same time, relying on its expertise in online marketing, it has become a leading brand of home furnishing and is now preparing for the future. Cathay will help Brass Master with continuing to explore the Chinese market with its extended network in the furniture sector and retail industries in China, Europe and the United States. Cathay will also promote the cooperation between Brass Master and outstanding international companies and IPs to achieve strategic breakthrough and developments.”

    Guang YU always insists on the fact that a good product “touches people and has a friendly price”. Thanks to strong cultural innovation abilities and ultimate cost performance, he made his way through the home accessories and furniture markets and has achieved rapid development.

    Because of their popularity, Brass Master’s products are often short of supply. 80% of the products in store currently have a “pre-sale” status. In September 2017, Brass Master secured a Series A funding round led by Shunwei Capital and Xiaomi Investment and quickly expanded its factories and added equipment soon after, doubling productivity, but still struggled to keep up with the growing demand.

    Speaking of the purpose of the funding round, Guang YU said the money will be invested in production expansion, especially that of furniture lines, to meet the growing demand. The money will also be used to greatly enhance internal organization, making sales and production management more efficient, extend product lines appropriately and work with other companies within the Xiaomi ecosystem, providing better home products to the loyal customers of Brass Master.

    After obtaining an IP authorization from the National Museum of China and signing a strategic cooperation agreement with the China Academy of Art, Brass Master won one of Marvel's most coveted IP "Avengers", the IP of Cixin LIU's work “The Three-Body Problem” and Jing WU's sci-fi "The Wondering Earth”. Guang YU believes collaborating with such popular IPs will help Brass Master achieve further developments.

    Guang YU added: “Cathay Capital and GX Capital are very supportive, the whole financing process has been very smooth and our first investors - Shunwei Capital, Xiaomi Investment and Haiquan Fund – agreed to continue investing in our company without hesitation. In such a difficult environment where investments are decelerating, we’re proud to see investors firmly endorse a small business like ours. This gives us a lot of confidence and proves that our business philosophy is relevant. As consumption is upgrading, home accessories, customized gifts and furniture have great potential and as long as we work hard, we will be able to make new breakthroughs.”

    (President, founder and CEO of Brass Master)

  • Official listing on Nasdaq of Cathay Innovation’s portfolio company Pinduoduo for a market value of USD 24bn On July 26, 2018, Pinduoduo rang the opening bell simultaneously in Shanghai and New York, and was officially listed on the Nasdaq stock exchange. Read more

    Official listing on Nasdaq of Cathay Innovation’s portfolio company Pinduoduo for a market value of USD 24bn

    Official listing on Nasdaq of Cathay Innovation’s

    portfolio company Pinduoduo for a market value of USD 24bn

    On July 26, 2018, Pinduoduo rang the opening bell simultaneously in Shanghai and New York, and was officially listed on the Nasdaq stock exchange, with a share price of USD 19 and a market value of USD 24bn. For the first time in history, the Nasdaq sent the beating bell button to Shanghai to welcome the fastest listing for a Chinese internet company. As a matter of fact, it took Pinduoduo only 2 years and 11 months from its creation in September 2015 to land on Nasdaq.     

    Such a fast outcome is justified by meteoric rise of the metrics of the company. As of June 31, 2018, PDD’s active users had reached 344 million in 12 months. In Q2 2018, the average MAU reached 195 million, which is a 17% increase compared to Q1 2018. Still as of June 31, 2018, PDD’s GMV had reached RMB 262.1bn and the average consumption per active user had increased from RMB 674 to RMB 763 in 12 months. In addition, the revenue of the PDD platform continued to maintain a rapid growth.

    Such a steep growth in the field of  commerce has never been seen in the history of the internet and humanity. It is worth mentioning that it took PDD’s GMV only 2 years to pass the 100 billion threshold while it took JD.com 15 years and Taobao 5 years. 

    Also, the bulk of the buyers are Chinese from Tier 3 and Tier 4 cities in China, who were not actively buying online because the offer hadn’t really satisfied their needs. Pinduoduo managed to make hundreds of millions of people enjoy the benefits of the digital commerce in a way at the same time more fun and economically attractive.

    As a non-traditional company that combines material and spiritual consumptions, PDD is committed to becoming a combination of Costco and Disney. According to customers, the company sells “excellent products at a fair price” through the ultimate compression of the supply chain connecting customers directly with manufacturers. As for manufacturers, they think the model of “small SKU, high volume, blockbuster” is the best option to transform and upgrade traditional factories. In the past three years, PDD has added nearly 1,000 factory brands to its platform.

    “The biggest value of PDD is to offer new solutions to the e-commerce industry. Its model has a strong potential of replication so we are confident that PDD will become an international company, the same way as Costco became the second largest retailer in the world. It is the first time in the history of China's internet development that a business model like PDD was created and we are very pleased that Cathay Innovation is part of this success story”, said Mingpo CAI, Founder and President of Cathay.

    Cathay Innovation has been an investor in the company very early on as it invested in PDD’s Series B round in 2016. 

  • Glovo closes 115M€ Series C Funding Round Glovo closes 115M€ Series C Funding Round to strengthen its growth and become the most relevant technology hub in Southern Europe. Read more

    Glovo closes 115M€ Series C Funding Round

    Glovo closes 115M€ Series C Funding Round to strengthen its growth and become the most relevant technology hub in Southern Europe

     

    • The startup is heading in its ambition to optimize the platform and offer a better service to riders, users and stores. With this goal, the company plans to hire more than 100 engineers
    • Niall Wass, former SVP, EMEA & APAC at Uber, and current Glovo advisor, has been nominated Chairman of the Board. His vast experience will help Glovo consolidate its position in the operating countries and continue with its international expansion
    • The firms Rakuten, Seaya and Cathay Innovation reaffirm their commitment to Glovo’s business model in this Series C, which includes new investors such as AmRest, one of largest companies in the restaurant sector, the European funds Idinvest Partners and GR Capital, as well as other minor investors

    Barcelona, ​July 18th, 2018.- The technological platform Glovo strengthens its business model with the entry of 115 million Euros in a Series C round from the international companies Rakuten, Seaya and Cathay Innovation, which already invested in Series B; AmRest, the largest publicly listed restaurant operator in Central Europe, the European funds Idinvest Partners and GR Capital, and other minor investments. This new injection of funding will allow the startup to continue investing in optimizing the platform and its technological resources in order to improve the service to riders, users and associated stores. The company will increase its tech team with the hiring of more than 100 engineers in the coming months with the aim of becoming the most relevant technology hub in Southern Europe.

    The opening of 6 countries and 20 cities around the world in just three months demonstrates Glovo’s priority to grow and consolidate its business worldwide, focusing on Latin America and EMEA areas (Europe, the Middle East and Africa). In Spain Glovo already operates in more than 21 cities, while worldwide, its presence expands to 61 cities in 17 countries.

    Founded in Barcelona in January 2015, Glovo has revolutionized the way people in the cities consume, giving them the possibility to ask for what they want, whenever and wherever they want, taking their city in their pocket.

    The rapid growth and consolidation of Glovo have highlighted the company's enormous potential. Therefore, in this new series the prestigious Japanese company Rakuten, sponsor of FC Barcelona, the global venture capital fund Cathay Innovation and the Spanish fund Seaya Ventures are still present. They believe in Glovo’s innovative business model and seek to promote its development. AmRest is one of the new investors that enter the shareholding of the Barcelona startup. AmRest controls over 1,650 restaurants in more than 16 countries with brands such as KFC, La Tagliatella, Pizza Hut, Starbucks and Burger King, Blue Frog and KABB. This investment of 115 million Euros positions Glovo as one of the Spanish companies receiving the largest investment in 2018.

    "We are very happy with this new injection of liquidity that will allow us to continue growing at an accelerated rate,” said Oscar Pierre, CRO and co-founder of Glovo. “My main priority is to invest in increasing our tech team to continue optimizing the platform and offer the best service in the sector to our three main axes: riders, users and stores and become their reference delivery app."

    Besides, the company has gained a great exceptional active with the nomination of Niall Wass as Chairman. Wass, former SVP, EMEA & APAC at Uber, has been working for Glovo as advisor for the last year, helping the company with its expansion strategy.

    Latham & Watkins, international law firm, has advised Glovo in this funding round. 

    About Glovo

    Glovo is an app that allows you to buy, collect and send any product within the same city at a time. It has more than 1 million users and 5,600 associated partners. In Spain, the service is available in the urban areas of 21 cities, among them are Barcelona, ​​Madrid, Valencia, Zaragoza or Seville. Internationally, Glovo operates in the main capital cities in Europe and EMEA, as Rome, Paris, Istanbul or Casablanca and also in 9 countries of LATAM, as Brazil, Argentina or Panama. Currently Glovo is already in 61 cities of 17 countries throughout the world and it’s expected to expand and open its business to new cities in the coming weeks.

    For additional information:

    Adelaida Chinchilla / Rocío Carasso

    a.chinchilla@romanyasociados.es

    r.carasso@romanyasociados.es                 

    93.414.23.40 / 648 50 37 39

     

    About Rakuten Capital

    Rakuten Capital is a corporate venture capital group that provides funding, sector experience and operational support to its portfolio companies across the world. Rakuten Capital is part of the RakutenGroup (TSE: 4755), one of the world’s leading internet service companies headquartered in Tokyo with operations in Asia, Europe and the Americas. Rakuten has built and invested in innovative internet businesses in e-commerce, financial services, digital content and advertising since 1997. For more information visit: https://capital.rakuten.com

    About Seaya Ventures

    Seaya Ventures is a Venture Capital fund with €160M assets under management. Seaya invests in early and growth stage Internet and technology-enabled businesses in Spain and Latin America, supporting them in their expansion and growth to become regional and global leaders. Seaya, founded in 2013, has invested through two funds, Seaya I and Seaya II, in 17 companies, among which are Cabify, Glovo, Spotahome or Yogome. For more information visit: https://seayaventures.com/newsroom/

    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 AmRest Holdings SE

    AmRest Holdings SE is the largest publicly listed restaurant company in Central and Eastern Europe. AmRest runs the following partnerships: KFC, Pizza Hut, Starbucks i Burger King, and is the owner of supreme La Tagiatella brand and two Chinese concepts: Blue Frog i KABB. Currently Partnership controls over 1650 restaurants in the segment of Quick Service Restaurants and Casual Dining Restaurants (with waiter service) in 16 countries: Poland, Czech Republic, Slovakia, Hungary, Romania, Bulgaria, Serbia, Croatia, Slovenia, Austria, Russia, Spain, Portugal, France, Germany, and China. More information available on the webpage: www.amrest.eu/en

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