L’Oréal makes LP commitment to Cathay VC fund
L’Oréal will support the second fund being raised by Cathay Innovation, the VC affiliate of Cathay Capital Private Equity. The company wants to build ties to the beauty tech start-up ecosystem in China, its second-largest market.
The fund has a target of EUR500 million ($555 million) and reached a first close of EUR320 million in June. A final close is imminent, according to a source familiar with the situation. L’Oréal...
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