ADP, SEB, Michelin, Valeo, Accor, BioMérieux, Dassault, JCDecaux Holding, Kering and Pernod Ricard have all contributed to the venture fund’s $358m first close.

Cathay Innovation, the venture capital arm of France-based private equity firm Cathay Capital, reached the €320m ($358m) first close of a €500m fund today, securing capital from several corporate limited partners. The LPs include hospitality chain Accor, airport operator ADP, biotech firm BioMérieux, diversified conglomerate Dassault, outdoor advertising company JCDecaux, luxury goods producer Kering, appliance…

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