General_Catalyst

General Catalyst

General Catalyst

American venture capital firm


General Catalyst is a U.S.-based venture capital (VC) firm that makes early stage and growth investments.[1][2][3][4] The firm has invested in global companies, including Airbnb, Kayak, Datalogix, Datto, Livongo, Gusto, Buildkite, Warby Parker, Oscar, Deliveroo, Lemonade, Stripe, and Snap.[5][3][6][7]

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History

General Catalyst was founded in 2000 in Massachusetts by Joel Cutler and David Fialkow.[6][8][9][10][11]

In 2010, the company opened a Silicon Valley office.[8] In 2021, the firm managed more than $8 billion in assets.[12] In February 2022, it raised $4.6 billion for its 11th general fund. This brought the firm's total raised in its 20-year history to $14.75 billion.[13]

In 2021, the firm opened a London office.[14][15] By September 2022, General Catalyst had invested in 17 European startups.[16] In April 2023, the company had invested in 25 Indian startups, including CRED, Uni, Spinny, Orange Health, FarMart, and Loop Health with investments ranging in all stages.[17]

In March 2023, General Catalyst was a supporter of the Silicon Valley Bank (SVB), after U.S. regulators shut it down after a significant number of the bank's customers sought to withdraw funds after dropping stock prices.[18][19] General Catalyst, which was a SVB customer,[20] organized a joint statement of support signed by more than 110 venture capital firms.[18]

As of 2020, it was ranked as one of America's largest venture capital firms.[21]

Investments

General Catalyst makers capital investments in seed-stage companies, early-stage businesses and later-stage companies.[22][23][24]

Healthcare fund

In 2021, General Catalyst raised $600 million for a new Health Assurance Fund.[25][26]

In July 2022, the firm raised an additional $670 million.[13] The money is invested in healthcare businesses.[25][27][28] General Catalyst has been the most active investor in healthcare since the beginning of 2020.[29][30]

In October 2023, the company announced plans to acquire a health system and "then use it as a proving ground for technology that its portfolio companies sell, including generative artificial intelligence-powered solutions applied to health care problems."[31]


References

  1. Jennings, Katie. "Defying Pullback In Investments, General Catalyst Launches $670 Million Healthcare Fund". Forbes. Retrieved June 5, 2023.
  2. Chernova, Yuliya (July 12, 2023). "Venture Firm General Catalyst Seeks Bigger Funds Despite Market Downturn". Wall Street Journal. ISSN 0099-9660. Retrieved October 23, 2023.
  3. "VC General Catalyst to boost India investments". The Times of India. April 25, 2023. ISSN 0971-8257. Retrieved June 5, 2023.
  4. Chernova, Yuliya. "Goldman Sachs to Buy $200 Million Stake in General Catalyst". WSJ. Retrieved July 17, 2023.
  5. Farrell, Maureen (November 8, 2021). "A former SoftBank executive will join the Silicon Valley venture firm General Catalyst". The New York Times. ISSN 0362-4331. Retrieved June 14, 2023.
  6. Alspach, Kyle (December 23, 2013). "General Catalyst raises $675M seventh fund, cites growing focus on Silicon Valley". www.bizjournals.com. Retrieved June 13, 2023.
  7. "General Catalyst closes $675M fund to expand presence in Silicon Valley". VentureBeat. December 23, 2013. Retrieved June 13, 2023.
  8. Maheshwari, Sapna (November 8, 2021). "Macy's plans to raise wages and offer tuition assistance in the race for hourly workers". The New York Times. ISSN 0362-4331. Retrieved June 5, 2023.
  9. "Venture firm General Catalyst loses co-founder". Fortune. Retrieved September 8, 2023.
  10. Kruppa, Miles (September 29, 2021). "General Catalyst launches fund to buy future earnings of tech start-ups". Financial Times. Retrieved June 9, 2023.
  11. Hammond, George (October 16, 2023). "General Catalyst in German VC tie-up as part of European tech push". Financial Times. Retrieved October 23, 2023.
  12. Butcher, Mike (February 4, 2021). "General Catalyst pushes farther into Europe/Israel, hiring Chris Bischoff for London office". TechCrunch. Retrieved June 9, 2023.
  13. "General Catalyst expects to invest $100 million in Indian start-ups". www.thehindubusinessline.com. April 25, 2023. Retrieved June 9, 2023.
  14. Chernova, Yuliya (July 12, 2023). "WSJ News Exclusive | Venture Firm General Catalyst Seeks Bigger Funds Despite Market Downturn". Wall Street Journal. ISSN 0099-9660. Retrieved November 21, 2023.
  15. "Top 10 venture capital firms: General Catalyst". fintechmagazine.com. June 25, 2020. Retrieved June 9, 2023.
  16. Loizos, Connie (March 18, 2019). "General Catalyst just carved out an aggressive new seed-stage program -- here's what to know". TechCrunch. Retrieved June 9, 2023.
  17. Bruce, Giles (August 29, 2022). "General Catalyst: Why the VC firm with an unassuming name should have healthcare's attention". www.beckershospitalreview.com. Retrieved June 9, 2023.
  18. Szkutak, Rebecca (October 14, 2023). "Why does General Catalyst want to buy a healthcare system?". TechCrunch. Retrieved October 23, 2023.
  19. "General Catalyst announces new healthcare company, intent to purchase health system". MobiHealthNews. October 10, 2023. Retrieved October 23, 2023.
  20. Szkutak, Rebecca (October 14, 2023). "Why does General Catalyst want to buy a healthcare system?". TechCrunch. Retrieved November 21, 2023.
  21. Ravindranath, Mohana (November 1, 2023). "Venture capitalists want to own hospitals. Can they do better than private equity?". STAT. Retrieved November 21, 2023.

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