General Catalyst announced it has closed on $8 billion in new capital. Of this amount, $4.5 billion has been earmarked for the core VC funds focused on seed and growth equity (across the Ignition, Endurance, and Health Assurance strategies), $1.5 billion for the Creation strategy, and $2 billion of separately managed accounts.
As a global investment company seeking to partner with the world’s most ambitious entrepreneurs to drive transformation, resilience, and applied AI, the firm believes this capital will turbocharge its investment thesis across AI, defense and intelligence, climate and energy, industrials, healthcare, and fintech.
General Catalyst CEO and managing director Hemant Taneja said that since the firm’s launch 25 years ago, they had committed to partnering with founders from the beginning as they aspire to become power-law companies. The firm has scaled its capabilities globally by combining forces with La Famiglia in Europe and Venture Highway in India to broaden the support of founders at the seed stage. The firm also continues to hatch the next generation of potentially category-defining companies (45+) with examples, including Commure, Hippocratic, Homeward, Crescendo, Kayak, Demandware, and Livongo.
The firm has also helped proven founders launch new companies in complex business through Transformations and infuse more technology into existing businesses through Venture Buyouts.
KEY QUOTES:
“For years I’ve stated that the traditional VC model does not best position founders to transform industries. Transformations require ecosystems of companies to work together with uncommon collaboration – so we created the GC Transformation Flywheel to bridge innovators with adopters to achieve scale. Core to this model is our Health Assurance Transformation Company, which coalesces 15% of US healthcare operations across hospital system partnerships, aiming to use technology to best serve patients. More recently, we extended the Transformation Flywheel by launching the GC Institute, a pioneering organization that connects start-ups with global governments to shape public policy in support of transformative technologies. We will continue to replicate this model across the global resilience continuum, with more announcements coming soon.”
“We are ready to be the company that drives transformations, global resilience and applied AI for the world. We are powered by early-stage venture capital at our core and excited to dream bigger and co-create with our GC Famiglia of founders, business leaders, and policymakers to expand what’s possible.”
-General Catalyst CEO and managing director Hemant Taneja
