|
Laxman Pai, Opalesque Asia: U.S. venture capital giant General Catalyst announced it closed $8 billion in new capital, including $6 billion for its latest fund, Fund XII, and $2 billion in separately managed accounts.
That total represents the largest haul by a venture capital firm in over two years and San Francisco-based General Catalyst's largest capital raise to date, according to PitchBook data.
The fund was raised as part of a push by the high-profile Silicon Valley firm to expand globally and make new private equity-style investments.
"As a global investment company that seeks to partner with the world's most ambitious entrepreneurs to drive transformation, resilience, and applied AI, we believe this capital will turbocharge our investment theses across AI, Defense & Intelligence, Climate & Energy, Industrials, Healthcare, and Fintech," said a press release from the Hemant Taneja's company.
The company will distribute $4.5 billion to its core VC funds focusing on seed and growth equity across its Ignition, Endurance, and Health Assurance strategies, $1.5 billion for its Creation strategy, and $2 billion for separately managed accounts. Its current portfolio includes fintech giant Stripe, defense AI company Helsing, and telehealth platform Ro.
"We are ready to be the company that drives transformations, global resilience, and applied AI for the world. We are powered by early-stage venture capital at our core and excited to dream bigger and co-c...................... To view our full article Click here
|
RSS
