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General Catalyst raises $8B in fresh funds to back startups globally
- General Catalyst has raised $8bn in funds to invest in multi-sector early-stage startups across the U.S., Europe, and India.
- Around $4.5bn is earmarked for its core VC funds and $1.5bn for its creation strategy focused on helping proven founders build new businesses.
- Another $2bn will be used for separately managed accounts, which are investment vehicles created for a single institutional investor.
- Following the funding, General Catalyst now has approximately $25bn assets under management.
- General Catalyst has backed prominent startups such as Airbnb, Instacart, Snap, Kayak, Stripe, and HubSpot.
- Jeannette zu Fürstenberg, who heads the company’s European business, said 25% of the $8bn raised would be allocated to Europe across all GC's strategies.
- GC's plans to execute its creation strategy involve partnering with large companies looking to embed AI and build a particular product.
- GC is focusing on two themes: applied AI and global resilience, and coalescing to embed AI in defense and aerospace industries.
- General Catalyst is also gearing up to make its first investment in Saudi Arabia.
- GC’s latest funds are among the largest to emerge from a U.S. VC firm since Tiger Global’s $12.7bn tranche more than two years ago.
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