General Catalyst, a global investment and transformation company and backer of Multiverse, Monzo, Lottie, Doccla, CHARM Therapeutics, Physics X, and more has raised $8 billion of new capital, across its core VC funds and separately managed accounts.
Funds utilisation
This new family of funds will fuel General Catalyst’s continued evolution beyond traditional venture capital, expanding its commitment to support founders to tackle the biggest challenges and opportunities of our time.
The $8 billion commitment will be allocated as follows:
$4.5 billion for core venture capital investments across seed and growth equity stages, deployed through dedicated strategies: Ignition (early-stage), Endurance (growth-stage), and Health Assurance.$1.5 billion for company creation, including venture buyouts and the development of new businesses from the ground up.$2 billion in separately managed accounts (SMAs) to fuel the next generation of groundbreaking technologies and businesses.
General Catalyst was founded in 2000 by David Skok and Hemant Taneja (former partner at Bain Capital Ventures) to support innovative companies that are transforming industries and making a positive impact on the world. It is focused on early-stage and growth-stage technology companies. The company invests in a wide range of sectors, including software, healthcare, fintech, and consumer technology.
The team at General Catalyst is comprised of experienced entrepreneurs and investors who understand the challenges and opportunities faced by early-stage companies. This entrepreneurial mindset allows them to provide valuable guidance and support to their portfolio companies.
While headquartered in Boston, General Catalyst has offices in San Francisco, New York, London, Beijing, and Mumbai. This global reach allows them to invest in companies around the world and provide local support.
Beyond traditional venture capital, General Catalyst is developing innovative solutions to support founders throughout their journey. This includes the Customer Value Strategy, which provides non-dilutive capital to accelerate growth, and the GC Transformation Flywheel, which connects innovators with adopters to drive industry transformation at scale.
It has also created the Health Assurance Transformation Company, which brings together 15% of US healthcare operations across hospital system partnerships to use technology to better serve patients. The Transformation Flywheel model has also recently been extended to launch the GC Institute as a pioneering organisation that connects start-ups with global governments to back transformative technologies to shape public policy.
Portfolio of investments
The investor has a deep history of hatching 45+ successful companies, including Commure, Crescendo, Demandware, Hippocratic, Homeward, Kayak, and Livongo, while investing at the earliest stage in companies with global potential including Snap, Stripe, Mistral, Gusto, Helsing, and Anduril.
Other companies backed by the VC include Airbnb, Datadog, Pinterest, Squarespace, Deliveroo, Doordash, and more.
“Since our inception 25 years ago, we have made a commitment to partner with founders from the beginning as they aspire to become “power law” companies. We’ve since scaled our capabilities globally, combining forces with La Famiglia in Europe and Venture Highway in India to broaden our support of founders at the seed stage. But to achieve outsize impact using applied AI and global resilience to address what we believe are the world’s great challenges, we must also transcend the traditional definition of venture capital. So we’ve broadened our founder and capital solutions to venture beyond and support founders with a broader partnership,” said Hemant Taneja, CEO and Managing Director of General Catalyst.
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