General Catalyst

Last updated
General Catalyst
Type Private
Industry Venture Capital
Founded2000;24 years ago (2000)
Founders
Headquarters Cambridge, MA,
U.S.
Number of locations
Area served
Key people
Products Investments
Number of employees
200
Website generalcatalyst.com

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, Warby Parker, Oscar, Deliveroo, Lemonade, Stripe, and Snap. [5] [3] [6] [7]

Contents

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 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]

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References

  1. ↑ Jennings, Katie. "Defying Pullback In Investments, General Catalyst Launches $670 Million Healthcare Fund". Forbes. Retrieved 2023-06-05.
  2. ↑ Chernova, Yuliya (2023-07-12). "Venture Firm General Catalyst Seeks Bigger Funds Despite Market Downturn". Wall Street Journal. ISSN   0099-9660 . Retrieved 2023-10-23.
  3. 1 2 "VC General Catalyst to boost India investments". The Times of India. 2023-04-25. ISSN   0971-8257 . Retrieved 2023-06-05.
  4. ↑ Chernova, Yuliya. "Goldman Sachs to Buy $200 Million Stake in General Catalyst". WSJ. Retrieved 2023-07-17.
  5. ↑ Farrell, Maureen (2021-11-08). "A former SoftBank executive will join the Silicon Valley venture firm General Catalyst". The New York Times. ISSN   0362-4331 . Retrieved 2023-06-14.
  6. 1 2 Bertoni, Steven. "Venture Capital Firm General Catalyst Raises $2.3 Billion Amid Coronavirus Crisis". Forbes. Retrieved 2023-06-05.
  7. ↑ Alspach, Kyle (Dec 23, 2013). "General Catalyst raises $675M seventh fund, cites growing focus on Silicon Valley". www.bizjournals.com. Retrieved 2023-06-13.
  8. 1 2 "General Catalyst closes $675M fund to expand presence in Silicon Valley". VentureBeat. 2013-12-23. Retrieved 2023-06-13.
  9. ↑ Jennings, Katie. "Defying Pullback In Investments, General Catalyst Launches $670 Million Healthcare Fund". Forbes. Retrieved 2023-06-05.
  10. ↑ Maheshwari, Sapna (2021-11-08). "Macy's plans to raise wages and offer tuition assistance in the race for hourly workers". The New York Times. ISSN   0362-4331 . Retrieved 2023-06-05.
  11. ↑ "Venture firm General Catalyst loses co-founder". Fortune. Retrieved 2023-09-08.
  12. ↑ Kruppa, Miles (2021-09-29). "General Catalyst launches fund to buy future earnings of tech start-ups". Financial Times. Retrieved 2023-06-09.
  13. 1 2 Jennings, Katie. "Defying Pullback In Investments, General Catalyst Launches $670 Million Healthcare Fund". Forbes. Retrieved 2023-06-14.
  14. ↑ Hammond, George (2023-10-16). "General Catalyst in German VC tie-up as part of European tech push". Financial Times. Retrieved 2023-10-23.
  15. ↑ Butcher, Mike (2021-02-04). "General Catalyst pushes farther into Europe/Israel, hiring Chris Bischoff for London office". TechCrunch. Retrieved 2023-06-09.
  16. ↑ Lewin, Amy (December 14, 2021). "US VC giant General Catalyst has opened an office in Europe".
  17. ↑ "General Catalyst expects to invest $100 million in Indian start-ups". www.thehindubusinessline.com. 2023-04-25. Retrieved 2023-06-09.
  18. 1 2 Joyner, April. "More than 110 VC firms, led by General Catalyst, are banding together in support of Silicon Valley Bank". Business Insider. Retrieved 2023-06-09.
  19. ↑ "Top VCs in a huddle to discuss Silicon Valley Bank collapse, vow to be 'supportive'". The Economic Times. 2023-03-11. ISSN   0013-0389 . Retrieved 2023-06-09.
  20. ↑ "More than 1,000 VC, PE, and investment firms held capital at SVB in 2022". Fortune. Retrieved 2023-06-14.
  21. ↑ Chernova, Yuliya (2023-07-12). "WSJ News Exclusive | Venture Firm General Catalyst Seeks Bigger Funds Despite Market Downturn". Wall Street Journal. ISSN   0099-9660 . Retrieved 2023-11-21.
  22. ↑ "Top 10 venture capital firms: General Catalyst". fintechmagazine.com. 2020-06-25. Retrieved 2023-06-09.
  23. ↑ Loizos, Connie (2019-03-18). "General Catalyst just carved out an aggressive new seed-stage program -- here's what to know". TechCrunch. Retrieved 2023-06-09.
  24. ↑ Bruce, Giles (2022-08-29). "General Catalyst: Why the VC firm with an unassuming name should have healthcare's attention". www.beckershospitalreview.com. Retrieved 2023-06-09.
  25. 1 2 Konrad, Alex. "General Catalyst Doubles Down On Healthcare With $600 Million New Fund". Forbes. Retrieved 2023-06-14.
  26. ↑ Szkutak, Rebecca (2023-10-14). "Why does General Catalyst want to buy a healthcare system?". TechCrunch. Retrieved 2023-10-23.
  27. ↑ Chernova, Yuliya. "WSJ News Exclusive | Venture Firm General Catalyst Seeks Bigger Funds Despite Market Downturn". WSJ. Retrieved 2023-07-17.
  28. ↑ "General Catalyst announces new healthcare company, intent to purchase health system". MobiHealthNews. 2023-10-10. Retrieved 2023-10-23.
  29. ↑ Szkutak, Rebecca (2023-10-14). "Why does General Catalyst want to buy a healthcare system?". TechCrunch. Retrieved 2023-11-21.
  30. ↑ Jennings, Katie. "Why VC Firm General Catalyst Wants To Spend Billions To Buy A Hospital System". Forbes. Retrieved 2023-11-21.
  31. ↑ Ravindranath, Mohana (2023-11-01). "Venture capitalists want to own hospitals. Can they do better than private equity?". STAT. Retrieved 2023-11-21.
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