- Venture capital firm General Catalyst announced that it raised $2.3 billion in capital commitments across 3 funds
Venture capital firm General Catalyst announced that it raised $2.3 billion in capital commitments across 3 funds, according to Forbes. General Catalyst managing director Hemant Taneja told Forbes that the 3 funds include a $600 million early-stage fund, a $1 billion growth fund for companies that have over $10 million in annual revenue, and a $700 endurance fund for backing larger companies with over $100 million in revenue.
The $2.3 billion in capital commitments is a major jump for the firm since it raised $1.4 billion in 2018 and $845 million in 2016. With these funds, General Catalyst will look into backing companies in the healthcare, education, and small business sectors. Some of the company’s portfolio companies include Stripe, Airbnb, Warby Parker, and Deliveroo.
“This pandemic has shed light on how technology can be used to rethink many core services like healthcare, education, and small business,” said Taneja via Forbes. “We’re optimistic that founders will step forward and do some profound work.”
Joel Cutler and David Fialkow founded General Catalyst in 2000 in Cambridge, Massachusetts. And the firm’s chairman Ken Chenault was previously CEO of American Express.
