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Unilever-Backed Venture Firm Cathay Raising 1 Billion-Euro Fund

Cathay Innovation has made over 120 investments in companies including Spanish delivery app Glovo.

Cathay Innovation has made over 120 investments in companies including Spanish delivery app Glovo.

Photographer: Benjamin Girette/Bloomberg

Cathay Innovation, a venture capital group backed by consumer conglomerate Unilever Plc and energy giant TotalEnergies SE, is raising 1 billion euros ($1 billion) to back tech startups.

The venture arm of investment firm Cathay Capital Group, is putting together its third fund, which will focus on sectors including digital health and financial technology companies, co-founder Denis Barrier said in an interview.