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General Catalyst

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General Catalyst
Company typePrivate
IndustryVenture capital
Founded2000; 26 years ago (2000)
Founders
HeadquartersCambridge, Massachusetts, US
Number of locations
Area served
Key people
ProductsInvestments
AUMUS$43B+ (December 2024)[1]
Number of employees
250+
Websitegeneralcatalyst.com

General Catalyst (GC) is an American venture capital firm headquarted in Cambridge, Massachusetts. Founded in 2000, it invests across seed, venture, and growth stages and manages more than US$43 billion in assets as of December 2024. The firm has invested in more than 800 companies. Its portfolio includes Airbnb, Stripe, Snap, Canva, HubSpot, Anduril, Mistral, and Helsing.

History

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General Catalyst was founded in 2000 in Massachusetts by Joel Cutler and David Fialkow.[2][3][4][5][6]

In 2010, the company opened a Silicon Valley office.[3] In 2021, the firm managed more than $8 billion in assets.[7] 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.[8]

In 2021, the firm opened a London office.[9][10] By September 2022, General Catalyst had invested in 17 European startups.[11] By 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.[12]

In March 2023, following regulators' closure of Silicon Valley Bank during a depositor run, General Catalyst organized a joint statement signed by more than 110 venture capital firms expressing support for the bank and its customers.[13]

In June 2022, the company made an investment in Multiverse as part of a $220 million investment round.[14]

In June 2024, General Catalyst acquired La Famiglia, a German venture capital firm, after which La Famiglia's founding partner Jeannette zu Fürstenberg became a managing director at General Catalyst, overseeing its European business.[15] In the same month, General Catalyst acquired Venture Highway, an early-stage investor based in New Delhi.[16][17]

In October 2024, General Catalyst announced the raise of $8 billion in new funds, including $4.5 billion for their core venture funds, making it their largest fundraise yet.[18]

In May 2025, the company launched a £30 million medical technology venture fund with the UK's National Health Service along with Speedinvest.[19]

In December 2025, General Catalyst agreed with Trian Partners to acquire Janus Henderson in an all-cash deal valued at about $7.4 billion, with Janus Henderson shareholders to receive $49 per share in cash.[20] In March 2026, after Janus Henderson received a rival bid from Victory Capital, Trian and General Catalyst increased their offer to $52 per share, valuing the company at about $8 billion. Janus Henderson said the revised Trian-General Catalyst deal was the only actionable proposal and remained on track to close by mid-2026.[21][22]

Investments

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Funds

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The following table lists General Catalyst's investment funds, based on publicly available filings and press reports.

# Fund name Category Date announced Amount (USD)
6 General Catalyst Group VI, L.P. Venture capital December 2011 $500 million[23]
7 General Catalyst Group VII, L.P. Venture capital December 2013 $675 million[24][25]
8 General Catalyst Group VIII, L.P. (incl. Supplemental) Venture capital January 2016 $825 million[26][27]
9 General Catalyst Group IX, L.P. Venture capital March 2018 $1.375 billion[28]
10 General Catalyst Group X, L.P. (Early Venture, Endurance, and Growth Venture) Venture capital April 2020 $2.3 billion[29][30]
— General Catalyst Group X – Health Assurance, L.P. (Health Assurance Fund I) Healthcare / Venture capital 2021 $600 million[31][32]
11 General Catalyst Group XI, L.P. (Creation, Endurance, Ignition) Venture capital February 2022 $4.6 billion[33][34]
— General Catalyst Group XI – Health Assurance, L.P. (Health Assurance Fund II) Healthcare / Venture capital July 2022 $670 million[35][36]
12 General Catalyst Group XII, L.P. (incl. Creation, Endurance, Health Assurance, Ignition sub-funds) Venture capital October 2024 $8 billion (total; $4.5 billion core venture)[37][38]
13 General Catalyst Group XIII, L.P. Venture capital March 2026 Not disclosed[39]
— General Catalyst Excelsior Fund, L.P. Venture capital August 2024 Not disclosed[40]
— General Catalyst NHS MedTech Venture Fund Healthcare / Venture capital May 2025 £30 million[41]

Healthcare fund

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In 2021, General Catalyst raised $600 million for a new Health Assurance Fund.[42][43]

In July 2022, the firm raised an additional $670 million.[8] The money is invested in healthcare businesses.[42][44][45] General Catalyst was the most active VC investor between 2020 and October 2023, according to Pitchbook.[46]

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."[47]

General Catalyst spent $485 million to purchase Summa Health and convert a non-profit health network into for-profit.[48]

References

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  1. ^ "General Catalyst". Retrieved December 2, 2025.
  2. ^ Bertoni, Steven. "Venture Capital Firm General Catalyst Raises $2.3 Billion Amid Coronavirus Crisis". Forbes. Retrieved June 5, 2023.
  3. ^ a b "General Catalyst closes $675M fund to expand presence in Silicon Valley". VentureBeat. December 23, 2013. Retrieved June 13, 2023.
  4. ^ Jennings, Katie. "Defying Pullback In Investments, General Catalyst Launches $670 Million Healthcare Fund". Forbes. Retrieved June 5, 2023.
  5. ^ 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.
  6. ^ "Venture firm General Catalyst loses co-founder". Fortune. Retrieved September 8, 2023.
  7. ^ Kruppa, Miles (September 29, 2021). "General Catalyst launches fund to buy future earnings of tech start-ups". Financial Times. Retrieved June 9, 2023.
  8. ^ a b Jennings, Katie. "Defying Pullback In Investments, General Catalyst Launches $670 Million Healthcare Fund". Forbes. Retrieved June 14, 2023.
  9. ^ Hammond, George (October 16, 2023). "General Catalyst in German VC tie-up as part of European tech push". Financial Times. Retrieved October 23, 2023.
  10. ^ Butcher, Mike (February 4, 2021). "General Catalyst pushes farther into Europe/Israel, hiring Chris Bischoff for London office". TechCrunch. Retrieved June 9, 2023.
  11. ^ Lewin, Amy (December 14, 2021). "US VC giant General Catalyst has opened an office in Europe".
  12. ^ "General Catalyst expects to invest $100 million in Indian start-ups". www.thehindubusinessline.com. April 25, 2023. Retrieved June 9, 2023.
  13. ^ Joyner, April. "More than 110 VC firms, led by General Catalyst, are banding together in support of Silicon Valley Bank". Business Insider. Retrieved June 9, 2023.
  14. ^ Lunden, Ingrid (June 8, 2022). "Multiverse nabs $220M at a $1.7B valuation to expand its tech apprenticeship platform". TechCrunch. Retrieved June 3, 2025.
  15. ^ Warnock, Eleanor (October 16, 2023). "German fund La Famiglia merges with General Catalyst". Sifted. Retrieved June 26, 2024.
  16. ^ Sharma, Samidha (June 20, 2024). "Silicon Valley VC fund General Catalyst acquires Venture Highway; will deploy $1 billion in India". The Economic Times. ISSN 0013-0389. Retrieved April 3, 2025.
  17. ^ Ramasubramanian, Sowmya (June 20, 2024). "VC firm General Catalyst acquires Venture Highway to expand in India | Mint". mint. Archived from the original on August 29, 2024. Retrieved April 3, 2025.
  18. ^ Taneja, Hemant. "Announcing Fund XII: Let's Venture Beyond". Retrieved October 26, 2024.
  19. ^ Curran, Niamh (May 12, 2025). "NHS trusts back £30m venture fund to aid medical tech firms". www.thetimes.com. Retrieved May 17, 2025.
  20. ^ Bhandari, Ateev (December 22, 2025). "Trian, General Catalyst to buy Janus Henderson for $7.4 billion". Reuters. Retrieved March 27, 2026.
  21. ^ "Trian and General Catalyst Agree to Increase Merger Consideration to $52.00 Per Share in Cash for Janus Henderson Group plc and Have Made the Only Actionable Proposal". Janus Henderson. March 24, 2026. Retrieved March 27, 2026.
  22. ^ Saini, Manya (March 24, 2026). "Victory Capital abandons Janus Henderson bid, clearing path for Trian-led deal". Reuters. Retrieved March 27, 2026.
  23. ^ "General Catalyst Group VI, L.P. Form D". U.S. Securities and Exchange Commission. December 28, 2011. Retrieved April 4, 2026.
  24. ^ Alspach, Kyle (December 23, 2013). "General Catalyst raises $675M seventh fund, cites growing focus on Silicon Valley". www.bizjournals.com. Retrieved June 13, 2023.
  25. ^ "General Catalyst Group VII, L.P. Form D". U.S. Securities and Exchange Commission. December 24, 2013. Retrieved April 4, 2026.
  26. ^ "General Catalyst Group VIII, L.P. Form D". U.S. Securities and Exchange Commission. February 5, 2016. Retrieved April 4, 2026.
  27. ^ "General Catalyst Group VIII Supplemental, L.P. Form D". U.S. Securities and Exchange Commission. February 5, 2016. Retrieved April 4, 2026.
  28. ^ "General Catalyst Group IX, L.P. Form D". U.S. Securities and Exchange Commission. March 26, 2018. Retrieved April 4, 2026.
  29. ^ Bertoni, Steven. "Venture Capital Firm General Catalyst Raises $2.3 Billion Amid Coronavirus Crisis". Forbes. Retrieved June 5, 2023.
  30. ^ "General Catalyst Group X – Growth Venture, L.P. Form D". U.S. Securities and Exchange Commission. April 9, 2020. Retrieved April 4, 2026.
  31. ^ Konrad, Alex. "General Catalyst Doubles Down On Healthcare With $600 Million New Fund". Forbes. Retrieved June 14, 2023.
  32. ^ "General Catalyst Group X – Health Assurance, L.P. Form D". U.S. Securities and Exchange Commission. February 11, 2021. Retrieved April 4, 2026.
  33. ^ Jennings, Katie. "Defying Pullback In Investments, General Catalyst Launches $670 Million Healthcare Fund". Forbes. Retrieved June 14, 2023.
  34. ^ "General Catalyst Group XI – Endurance, L.P. Form D". U.S. Securities and Exchange Commission. October 28, 2021. Retrieved April 4, 2026.
  35. ^ Jennings, Katie. "Defying Pullback In Investments, General Catalyst Launches $670 Million Healthcare Fund". Forbes. Retrieved June 14, 2023.
  36. ^ "General Catalyst Group XI – Health Assurance, L.P. Form D". U.S. Securities and Exchange Commission. July 20, 2022. Retrieved April 4, 2026.
  37. ^ Taneja, Hemant. "Announcing Fund XII: Let's Venture Beyond". Retrieved October 26, 2024.
  38. ^ "General Catalyst Group XII, L.P. Form D". U.S. Securities and Exchange Commission. November 29, 2023. Retrieved April 4, 2026.
  39. ^ "General Catalyst Group XIII, L.P. Form D". U.S. Securities and Exchange Commission. March 24, 2026. Retrieved April 4, 2026.
  40. ^ "General Catalyst Excelsior Fund, L.P. Form D". U.S. Securities and Exchange Commission. August 30, 2024. Retrieved April 4, 2026.
  41. ^ Curran, Niamh (May 12, 2025). "NHS trusts back £30m venture fund to aid medical tech firms". www.thetimes.com. Retrieved May 17, 2025.
  42. ^ a b Konrad, Alex. "General Catalyst Doubles Down On Healthcare With $600 Million New Fund". Forbes. Retrieved June 14, 2023.
  43. ^ Szkutak, Rebecca (October 14, 2023). "Why does General Catalyst want to buy a healthcare system?". TechCrunch. Retrieved October 23, 2023.
  44. ^ Chernova, Yuliya. "WSJ News Exclusive | Venture Firm General Catalyst Seeks Bigger Funds Despite Market Downturn". WSJ. Retrieved July 17, 2023.
  45. ^ "General Catalyst announces new healthcare company, intent to purchase health system". MobiHealthNews. October 10, 2023. Retrieved October 23, 2023.
  46. ^ Szkutak, Rebecca (October 14, 2023). "Why does General Catalyst want to buy a healthcare system?". TechCrunch. Retrieved November 21, 2023.
  47. ^ Ravindranath, Mohana (November 1, 2023). "Venture capitalists want to own hospitals. Can they do better than private equity?". STAT. Retrieved November 21, 2023.
  48. ^ Julie Washington, cleveland com (November 7, 2024). "Akron's SummaHealth moves closer to sale; deal to for-profit firm placed at $485 million". cleveland. Retrieved December 5, 2024.
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