Cathay Pacific has launched a fund that will invest in automotive and mobility technology, with Valeo supplying 25% of the capital.
China-based private equity firm Cathay Capital launched a RMB1.5bn ($226m) automotive technology fund on Monday, with 25% of the capital coming from automotive components supplier Valeo.
Valeo and Yangtze River Industry Fund, a vehicle formed by the government of Hubei province, are the cornerstone investors in CarTech Fund, which has also received backing from undisclosed additional investors.
CarTech Fund will invest the capital in China-based car and new mobility technology developers over a four-year period.
The fund will particularly focus…
