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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

  • 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

  • AfricInvest and Cathay Innovation join forces to launch the leading Pan-African Venture Fund Read more

    AfricInvest and Cathay Innovation join forces to launch the leading Pan-African Venture Fund

    AfricInvest, a leading private equity firm in Africa with $1.5bn in assets under management, and Cathay Innovation, the global venture capital fund, created in affiliation with Cathay Capital Private Equity, are pleased to announce today their association for the fundraising and management of the "Cathay Africinvest Innovation" Fund, the first Pan-African Venture Fund to connect the whole continent and the world's leading innovation ecosystems.

    This partnership capitalizes on the pan-African presence of AfricInvest teams (with 8 offices over the continent) and their in-depth knowledge of the entrepreneurial networks across Africa, as well as the experience and depth of Cathay Innovation's global platform that connects the main technological ecosystems in Europe, China and the United States.

    The "Cathay Africinvest Innovation" Fund, with a projected size of 150 million euros, will contribute to the development and scaling up of innovative companies that demonstrate strong growth in Africa while being open to international markets. The Fund team will provide selected companies with high value-added support by mobilizing its multidisciplinary expertise and networks within the various ecosystems in order to facilitate partnerships and accelerate their geographical expansion, with the aim of building up leaders in their respective sectors of activity.  

    This Fund will help create high-tech jobs and make products and services accessible to millions of Africans. It will have a significant impact on the continent in terms of the development of skills and know-how, value creation and economic, financial and social inclusion with strong ambitions in terms of return on investment. The fund will contribute to removing barriers between African countries and with the world by creating and connecting new digital infrastructures and services. 

    Aziz Mebarek, Co-founder and Managing Partner of AfricInvest remarked, “We are excited about the combination of experience, expertise and networks that will be delivered through this partnership between AfricInvest and Cathay, a world-class investor. Our combined objective is to provide support to a new generation of African companies in cutting-edge fields, with the ambition to grow them regionally and globally.”

    Mingpo Cai, Co-founder and Chairman of Cathay Innovation, added: "This partnership is based on shared vision and values, as well as ambitious objectives in terms of impact and return on investment. This Fund will also provide Cathay Innovation's portfolio companies with access to fast-growing African markets. We are convinced that this partnership will contribute to changing the financing and development of innovation in Africa.” 

    About AfricInvest

    AfricInvest was founded in Tunis in 1994 and is today among the leading private equity and VC firms in North and Sub-Saharan Africa with $1.5 billion of assets under management. With 18 PE funds across four strategies, AfricInvest is sponsored by prestigious DFIs, private and institutional investors from Africa, Asia, Europe and North America. AfricInvest funds have dedicated teams covering the African continent and France for growth capital and LBO transactions related to small, mid and large caps companies, financial sector institutions and VC. AfricInvest has also a dedicated team providing private debt to SMEs in Africa. AfricInvest relies on a team of 75 highly skilled investment professionals, representing 15 nationalities, operating out of ten offices in Abidjan, Algiers, Cairo, Casablanca, Dubai, Lagos, Nairobi, Paris and Port Louis, Tunis (and soon Johannesburg). AfricInvest is a co-founder of the African Private Equity and Venture Capital Association (www.avca-africa.org), and the Emerging Markets Private Equity Association (www.empea.org) as well as different PE country and regional associations in Africa and in France.

    For more information, please visit www.africinvest.com or follow us on Twitter @Africinvest_Grp

    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 €2.5 billion in assets under management, Cathay Capital Private Equity has completed over 98 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

    Follow us on Twitter: @CathayCapital

    LinkedIn: Cathay Capital Private Equity

    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 AfricInvest

    Ann Wyman

    Ann.wyman@africinvest.com

    +216 71 18 98 00

    For Cathay Capital

    Yoann Besse - Citigate Dewe Rogerson                                

    Yoann.besse@citigatedewerogerson.com

    +33 1 53 32 78 89

    THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION OR DISTRIBUTION INTO THE UNITED STATES.  THE MATERIAL SET FORTH HEREIN IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED, AND SHOULD NOT BE CONSTRUED, AS AN OFFER OF SECURITIES FOR SALE INTO THE UNITED STATES.   THE SECURITIES OF THE FUND DESCRIBED HEREIN HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE LAWS OF ANY STATE, AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES, EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE LAWS.   THERE IS NO INTENTION TO CONDUCT A PUBLIC SALE OF INTERESTS OF SECURITIES IN THE UNITED STATES.

  • Cathay Capital, Bpifrance, Mérieux Equity Partners and Auriga Partners to enter in exclusive negotiations for the sale of their stake in Amplitude Laser Group to L-GAM Read more

    Cathay Capital, Bpifrance, Mérieux Equity Partners and Auriga Partners to enter in exclusive negotiations for the sale of their stake in Amplitude Laser Group to L-GAM

    Cathay Capital Private Equity (“Cathay Capital”), along with Mérieux Equity Partners, Bpifrance, and Auriga Partners, announce today that they have entered into exclusive negotiations for the sale of their stake in Amplitude Laser Group, a leading global manufacturer of ultrafast lasers for scientific, medical and industrial applications, to the Luxembourg-based investment company L-GAM.

    The official signing of the final documentation will occur after the consultation of the employees' representatives of Amplitude Laser Group, and the sale will be subject to clearance from the German antitrust authority.

    Amplitude Laser Group is today the only international specialist to cover all ultrafast laser technologies and their applications. Amplitude Laser Group provides an expertise that is uniquely global, innovative and reliable, thanks to its close to 350 employees over 3 continents and a diversity of scientific, medical and industrial clients in over 40 countries.

    Since Cathay Capital, Bpifrance, Mérieux Equity Partners and Auriga Partners joined in 2012 as majority investors along with the management, Amplitude Laser Group has transformed itself into a global leader with a truly international footprint. With the backing of its shareholders, Amplitude Laser Group successfully expanded abroad through the opening of subsidiaries in Japan, Korea, and more recently in China, as well as in the United States with the acquisition of Continuum Lasers in 2014.

    During this period, Amplitude Laser Group also deeply diversified its end markets by pioneering the use of ultrafast lasers in high growth industries such as semiconductor, advanced micromachining and particularly display where it managed to establish a significant partnership with major manufacturers. The undisputed scientific and technical skills of the group also allowed it to be involved in most of the major laser research infrastructure projects, such as the Extreme Light Infrastructure in Europe, initiated by Gérard Mourou, 2018 Nobel Prize in Physics. All these efforts contributed to the strong growth of Amplitude Laser Group, with revenues more than tripling over the period to reach more than 70 million euros by March 2019.

    Eric Mottay, CEO of Amplitude Laser Group, said:With the support of our partners, and the commitment of the team, Amplitude has grown from a laser specialist to a global leader in the field of ultrafast lasers and applications. Our expansion in the US and South Korea, our partnerships with major display and semiconductor manufacturers, as well as the rapid expansion of our China operations leave us in a very strong position for the future. We are excited about upcoming partnership with L-GAM to enter a new development phase for the company

    Fabien Wesse, Partner at Cathay Capital, declared: “Over the last 7 years, we have supported Amplitude’s development by facilitating its expansion over three continents through organic growth, diversification and build ups. With our support, the Amplitude team has managed to develop the company tremendously, and it is now ready for a new phase of growth with L-GAM as new shareholder.”

    Emmanuelle Gervais, Senior Investment Director at Bpifrance, declared:We are pleased to have played a significant role in supporting Amplitude’s development. L-GAM as a new shareholder will help the company towards continued expansion and scale.”

    Jean-François Billet, Senior Partner at Merieux Equity Partners, declared: “With L-GAM, Amplitude is well positioned to continue its positive development, that we have been happy to successfully support alongside the management during these past years.”

    Yves Alexandre and Jerome Bertrand, Partners at L-GAM, concluded: “We are delighted to support Amplitude in its new development phase. We have been particularly impressed by the company positioning as a French technological pioneer in a high growth market driven by the penetration of ultrafast lasers in new applications, and by the team’s vision and dynamism. We are committed to contribute to the international development of Amplitude and the consolidation of its position as the leader and key innovator in the ultrafast market.

    This transaction is subject to customary regulatory approvals and consultations with employee representatives. The closing of the transaction should take place in the summer of 2019.

    ***

    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 €2.5 billion in assets under management, Cathay Capital Private Equity has completed over 98 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.

    Follow us on Twitter: @CathayCapital

    LinkedIn: Cathay Capital Private Equity

    About Bpifrance

    Bpifrance is the French national investment bank: it finances businesses – at every stage of their development – through loans, guarantees, equity investments and export insurances. Bpifrance also provides extrafinancial services (training, consultancy.). to help entrepreneurs meet their challenges (innovation, export…).

    For more information, please visit: www.bpifrance.fr and presse.bpifrance.fr - Follow us on Twitter: @Bpifrance - @BpifrancePresse

    About Mérieux Equity Partners

    Mérieux Equity Partners is a global investment platform specialized in the healthcare & nutrition sector, working alongside entrepreneurs and companies with ambitious growth plan, offering them privileged access to sector-expertise and industrial network.

    For more information, please visit www.merieux-partners.com

    About Amplitude Laser Group

    Amplitude Laser Group is the global leader in ultrafast lasers for scientific, medical and industrial applications. To its scientific customers, Amplitude offers ultra-high power, PetaWatt class ultrafast lasers for fundamental physics, as well as medical research in the field of radiography and cancer treatment by protontherapy. Amplitude also provides industrial ultrafast lasers for ophthalmology, semi-conductor and microelectronics, medical device manufacturing, among other industrial and medical applications. With a global presence over three continents, a strong culture of customer support, and a decade of experience in the design of ultrafast lasers, Amplitude Laser Group offers unparalleled performance and reliability no matter what the application.

    For more information, please visit us www.amplitude-laser.com/

    About L-GAM

    L-GAM (www.l-gam.com) is a long-term oriented investment company with capital commitments in excess of € 1 billion. L-GAM was established in 2013 with the backing of the Liechtenstein Princely Family and several families from Europe, Asia and the USA. Its unique and differentiated business model is based on a long-term, industrial-like investment focus and a flexible mandate to provide investment solutions throughout the capital structure. L-GAM focuses on partnering with small and medium sized companies across Europe. L-GAM has already invested in Jardiland (France), Faist ChemTec (Germany), Roberto Cavalli (Italy), Grupo BC (Spain), AltéAd (France), Cyber Group Studios (France) and Woolrich (Italy and US).

    ***

    Media contacts

    For Cathay Capital

    Yoann Besse - Citigate Dewe Rogerson                                        

    Yoann.besse@citigatedewerogerson.com

    +33 1 53 32 78 89

    For Bpifrance

    Christophe Menger

    christophe.menger@bpifrance.fr

    +33 1 41 79 95 12

    For Mérieux Equity Partners

    Jean-François Billet – Senior Partner

    jean-francois.billet@merieux-partners.com

    +33 1 44 08 55 10

    For L-GAM

    Guillaume Foucault CORPCOM

    guillaume.foucault@corpcom.fr

    +33 6 52 11 37 65

    For Amplitude Laser Group

    Agnès Buys-Mauleon

    agnes.mauleon@amplitude-laser.com

    +33 6 75 75 71 51

    ***

    Seller’s Advisors:

    M&A Advisor: Canaccord Genuity (Nicolas Royer, Christian Menard, Mohamed Sagou, Erwan Robertet)

    Legal Advisor: DLA Piper (Sarmad Haidar, Partner, Laurent Asquin and Alexis Orlando,   Associates)

    Management Advisor:

    Legal Advisor: CLARIS Avocats (Marie-Isabelle Lesveque)

    Company Advisors:

    Financial Advisor: KPMG (Mohammed Macaigne, Jean-Philippe Chiarasini)

    Strategic Advisor: Roland Berger (Julien Gautier)

    Buyer’s Advisors:

    M&A Advisor: Will Consulting (Jacques Ittah)

    Financial Advisor: PwC (Olivier Marion)

    Legal Advisor: Ayache Salama (Olivier Tordjman, Leslie Batazzi), PwC Avocats (Isabelle de la Gorce, Katia Gruzdova)

    Tax Advisor: Mayer Brown (Laurent Borey)

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