Cathay Life Insurance is the latest in a string of Taiwan and China-based insurers to put money into external venture capital funds.
Taiwan-based conglomerate Cathay Financial Holdings’ insurance subsidiary, Cathay Life Insurance, has committed $30m to US-headquartered venture capital firm New Enterprise Associates’ (NEA’s) 18th fund, DealStreetAsia reported yesterday, citing filings on the Taiwan Stock Exchange.
The investment is set to give Cathay Financial a stake of 1.03% in New Enterprise Associates 18, according to DealStreetAsia. NEA has so far secured just under $1.7bn for the vehicle, which has a $2.9bn ceiling.
The deal is just the latest case of an insurer…
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
