Valeo announces an investment of 22 million euros in Cathay Capital Sino French Innovation Fund
Paris – August, 28th 2015. Valeo announces a 22 million euros participation in the Cathay Capital Sino French Innovation Fund that was inaugurated today at an official launch ceremony in Beijing.
The fund is a new cross-border investment vehicle active across France, China and the United States and is dedicated to venture capital financing for innovative start-ups.
This investment is made in the context of a partnership between Valeo and Cathay Capital which will allow Valeo to increase its cooperation with innovative start-ups in the three geographies of the Fund.
As a leader in driving assistance systems, Valeo is developing technologies to make the car more autonomous, connected and intuitive. The cooperation with Cathay Capital will reinforce Valeo’s access to the most innovative technologies and trends coming from the entrepreneurial world.
“The cooperation with Cathay Capital will bring a new brick to our decade-long policy of Open Innovation, that aims at supporting the integration and growth in the automotive sector of innovative technologies coming from academic or entrepreneurial networks. The partnership with Cathay will provide us with new opportunities to interact with innovative startups, in three key geographies for the Group: China, Europe and the United States, in a context where the automobile is becoming more and more digital and connected.” stated Valeo CEO Jacques Aschenbroich.
Valeo is an automotive supplier, partner to all automakers worldwide. As a technology company, Valeo proposes innovative products and systems that contribute to the reduction of CO? emissions and to the development of intuitive driving.
In 2014, the Group generated sales of 12.7 billion euros and invested over 10% of its original equipment sales in research and development. Valeo has 133 plants, 16 research centers, 34 development centers, 15 distribution platforms and employs 78,500 people in 29 countries worldwide.
Valeo is listed on the Paris Stock Exchange and is a member of the CAC 40 index.
For more information about the Valeo Group and its activities, please visit our website www.valeo.com
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