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Since 2017, Cathay Innovation has backed 4 African startups across 5 disclosed funding rounds totaling $176.3M, most heavily in South Africa and Agri Tech.
Cathay Innovation is a multi-stage venture capital firm affiliated with Cathay Capital. The firm provides entrepreneurs with support from a global ecosystem and has investors based in the U.S., Europe, and Asia. Through its Cathay AfricInvest Innovation Fund, a Pan-African venture fund created with AfricInvest, Cathay Innovation invests in early to growth-stage startups based in or focused on Africa. It targets sectors including logistics, e-commerce, fintech, agtech, and others, with initial check sizes from $1-10M for growth-stage or up to $1M for select seed stages. Investments include seed funding in Oze (Ghana, fintech, $3M, Jan 2022), venture round in Nile (South Africa, agtech, $10.6M, Jun 2025), and Series B ($30M, Sep 2017) and Series C ($115M, Jul 2018) in Glovo (Pan-African, logistics). The firm has co-invested with partners such as Seaya, Rakuten, and others in these African deals.
Data updated · Jul 29, 2026
Cathay Innovation has backed 4 African startups across 5 disclosed funding rounds tracked on Liners, totaling $176.3M since 2017.
Mostly Series B: 2 of its 5 tracked rounds are at that stage, followed by Venture (Round not Specified) (1).
Cathay Innovation's tracked rounds are concentrated in South Africa (2), Kenya (2), Ghana (1).
Its tracked rounds lean toward Agri Tech (2), Quick Commerce (2), Fintech (1), and 1 more sector.
Cathay Innovation most often shares rounds with FMO Entrepreneurial Development Bank (2 shared deals), Seaya (2 shared deals), Rakuten (2 shared deals).
Cathay Innovation is a multi-stage venture capital firm affiliated with Cathay Capital. It supports entrepreneurs through a global ecosystem with investors in the U.S., Europe, and Asia.
It has backed Oze in Ghana (fintech, seed, $3M, 2022), Nile in South Africa (agtech, venture, $10.6M, 2025), and Glovo (Pan-African, logistics, Series B and C in 2017-2018).