Cathay Capital hits $240m first close of Growth RMB Fund II, targets $448m

Photographer: SeongJoon Cho /Bloomberg

Global investment firm Cathay Capital has secured the first close of its second RMB-denominated growth fund at over 1.6 billion yuan (almost $240 million), while it targets 3 billion yuan ($447.6 million) for the final closing, the firm announced on Thursday.

Cathay Growth RMB Fund II is backed by cornerstone investors Valeo, a publicly-listed automotive supplier based in France, and the French container shipping line CMA CGM.

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