Cathay Capital launches €500m health fund for tech-enabled healthcare, life science investments

Cathay Capital has launched a new €500m health fund to invest in healthcare, life sciences and technology.

French public investment bank Bpifrance, insurance company AXA and pharmaceutical company Groupe Pierre Fabre are among the investors in the fund.

The firm said the vehicle will make €5m to €50m investments in series A through series D companies across Europe, North America and Asia whose innovative tech-enabled products will catalyze groundbreaking advances in medicine.

The businesses will mainly be in six key areas including life sciences tools, diagnostics, clinical trial innovation, advanced therapeutics, new care models, and next-generation medical devices and materials.

Cathay Health has already invested in French medtech company Tissium, US-based pre-clinical biotech company Kojin Therapeutics and US-based healthcare venture studio Initiate.

Hongjie Hu, co-founder and managing partner at Cathay, said, “In the era of data-driven medicine, emerging technologies and solutions at scale have the potential to have a huge impact on human health and care in all its dimensions. These future leaders of the health economy show the promise of strong intellectual property, differentiated technology for personalized care, better access, lower costs and improved efficiencies.

“At Cathay Health, with a deep understanding of the health-technology interface across regions, our goal is to best support the growth of ground-breaking companies at the convergence that hold the most promise for patients worldwide,”

Cathay Capital had invested €500m in the healthcare sector across 34 companies from its private equity and venture funds.

The firm closed its €500m Innovation II fund and $850m Midcap II fund on the same day in 2020.

It formed a consortium with Eurazeo and Sagard Newgen two months ago to enter into an exclusive agreement to make €130m of investment in DiliTrust.

Source: Business Wire