Active Sep 27California

Cathay Innovation

Cathay Innovation, based in California, backs Series A and B startups in vertical AI, healthtech, fintech, consumer, climate, and logistics, leading rounds with checks from $3M to over $30M.

Entry stageSeries A, Series B
Check size$3M to $30M+
Leads roundsYes
FocusVertical AI, Healthtech, Fintech, Consumer, Climate, Logistics and mobility
Latest fund€2.5B (2025)€2.5B AUM; $1B Fund III (2025)
Investing team18 people1 activity update, latest Sep 27

Who you would pitch at Cathay Innovation

18 people on the investing team, 12 of them partners who can make the call. Partners are listed first.

Daniel Balmisse
Daniel BalmisseManaging Partner, Cathay InnoSquareHe previously held senior roles at Bpifrance, CDC Entreprises, and Caisse des Dépôts, with a career starting in telecommunications.
Denis Barrier
Denis BarrierCo-Founder & CEOHe previously held roles at Orange, Innovacom, and the French Treasury, and holds a Ph.D. in Solid State Physics.
Jacky Abitbol
Jacky AbitbolManaging PartnerHe previously held corporate development and consulting roles at several companies.
Lanchun Duan
Lanchun DuanManaging PartnerShe joined the firm in 2010 and has led investments in multiple companies.
Mingpo Cai
Mingpo CaiFounder & ChairmanHe focuses on long-term value creation through ecosystem synergies and serves on boards of portfolio companies.
Bruno Delahaye
Bruno DelahayePartnerHe has 20 years of experience in AI, data analytics, and retail, including roles at KXEN, SAP, Reach Analytics, and Walmart Connect.
Jing Zhao
Jing ZhaoPartnerHe previously worked at TotalEnergies and Arkema in France.
Li Zhang
Li ZhangPartnerShe previously worked at SBCVC, Citi, and China Mobile Communications Corporation.
Maoxiang Li (John)
Maoxiang Li (John)PartnerHe previously held roles at Lear Asia and represented other automotive companies.
Nicolas Du Cray
Nicolas Du CrayPartnerHe previously held roles at Iris Capital and Orange Capital, and co-founded Orange Labs in Beijing.
Rajive Keshup
Rajive KeshupPartnerHe joined in 2016 and previously worked at PwC Strategy and AT&T.
Simon Wu
Simon WuPartnerHe joined in 2016 and previously worked at VMware and UBS.
Costanza Carissimo
Costanza CarissimoInvestment Director
Marguerite de Tavernost
Marguerite de TavernostInvestment DirectorShe previously worked at Berlin-based VC firms and as a digital transformation consultant.
Marion Grégoire
Marion GrégoireInvestment DirectorShe joined in 2020 and has backed Alma, a French BNPL fintech.
Rose Yuan
Rose YuanInvestment Director
Shui Hong (Noah)
Shui Hong (Noah)Investment DirectorHe joined in 2018 and has worked with portfolio companies including Momenta, Tungee, BeatBot, and Galaxea AI.
Federico Gómez Romero
Federico Gómez RomeroHead of Cathay Latam FundHe previously worked at Accion Venture Lab and co-founded Credility, an SME lending platform in Argentina.

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Writes $3M to $30M+ checks. Its smallest check is larger than 93% of firms in the atlas.

Bars: how many firms in the atlas report each band. Highlighted: this firm.

1 activity update since September, latest Sep 27.

Weekly count of activity updates. Activity is not a confirmed deal.

Before you pitch

Ownership target7-10%
How to reach them[email protected]

Notable investments

ChimeLedgerMomentaGlovoMoonshot AINablaBioptimusPinduoduo

In their words

Cathay InnovationA global venture capital firm investing in founders building transformative businesses everywhere.cathayinnovation.com
Founders and investors at a Mode VC gathering

Send Mode VC your deck

Raising a pre-seed or seed round? We write $1M to $5M first checks and help founders with distribution. A partner reads every deck.

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Questions

What stage does Cathay Innovation invest in?

Cathay Innovation reports entry at series a, series b.

How much does Cathay Innovation invest?

Cathay Innovation reports checks of $3M to $30M+.

Does Cathay Innovation lead rounds?

Yes. Cathay Innovation says it can lead.

Who are the partners at Cathay Innovation?

Daniel Balmisse (Managing Partner, Cathay InnoSquare), Denis Barrier (Co-Founder & CEO), Jacky Abitbol (Managing Partner), Lanchun Duan (Managing Partner), Mingpo Cai (Founder & Chairman), Bruno Delahaye (Partner).

Is Cathay Innovation active right now?

Cathay Innovation has shown 1 activity update since September 2026, the latest on 2026-09-27.

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