Cathay Innovation Launches $1 Billion AI-Focused Venture Fund
Cathay Innovation has launched a new $1 billion fund aimed at supporting startups developing sector-specific applications of artificial intelligence. The Paris-based venture capital firm plans to invest in around 30 companies, with the flexibility to commit up to $50 million over the lifetime of each portfolio company.
Rather than focusing on general-purpose AI, the fund will target “vertical AI” solutions — technologies designed to address challenges in areas such as healthcare, financial services, mobility, energy, and consumer industries.
Among its first investments are Nabla, which offers an AI-powered assistant for clinicians; Range, a digital platform for wealth management; and Flowdesk, a provider of trading infrastructure for digital assets.
With this fund, Cathay Innovation is looking to support the next wave of AI adoption across industries where the technology can offer practical, measurable impact.
Sources:
A.M.
