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General Catalyst hauls in $4.6bn across three funds

Thursday, February 24, 2022

Laxman Pai, Opalesque Asia:

American venture capital firm General Catalyst (GC) has hauled in $4.6 billion, which is spread across a trio of distinct strategies, contributing to a strong start for venture fundraising this year.

According to a press release from the VC firm focused on early-stage and growth investments, the new Fund XI is consisting of Creation ($800 million), Ignition ($1.1 billion), and Endurance ($2.7 billion).

The largest fund in the new General Catalyst family is the $2.7 billion vehicle called General Catalyst Group XI-Endurance LP. The fund will be dedicated to investing in later-stage private companies with valuations north of $150 million.

The $1.1 billion Ignition fund- which includes seed and early-stage- will allow the firm to lean into its early-stage roots and support company building wherever innovation is flourishing. "The Ignition Fund will be focused primarily in the US and Europe, but we are also starting to invest in emerging and dynamic tech ecosystems elsewhere, including India. Ignition will continue to have a heavy focus on seed investing," said the release.

Meanwhile, the $800 million Creation fund allows GC to place a renewed focus on company creation and productize that approach-working with entrepreneurs and execs to either hatch or fundamentally transform companies in the company's core areas of interest, the release noted.

"This new fund family, together with our Health Assurance Fund which ......................

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