General Catalyst
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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]
History[edit]
General Catalyst was founded in 2000 in Massachusetts by Joel Cutler and David Fialkow.[6][8][9][10] In 2010, the company opened a Silicone Valley office.[11] 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.[13] 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[edit]
General Catalyst makers capital investments in seed-stage companies, early-stage businesses and later-stage companies.[22][23][24]
Healthcare fund[edit]
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[edit]
- ↑ Jennings, Katie. "Defying Pullback In Investments, General Catalyst Launches $670 Million Healthcare Fund". Forbes. Retrieved 2023-06-05.
- ↑ 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.
- ↑ 3.0 3.1 "VC General Catalyst to boost India investments". The Times of India. 2023-04-25. ISSN 0971-8257. Retrieved 2023-06-05.
- ↑ Chernova, Yuliya. "Goldman Sachs to Buy $200 Million Stake in General Catalyst". WSJ. Retrieved 2023-07-17.
- ↑ 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.
- ↑ 6.0 6.1 Bertoni, Steven. "Venture Capital Firm General Catalyst Raises $2.3 Billion Amid Coronavirus Crisis". Forbes. Retrieved 2023-06-05.
- ↑ Alspach, Kyle (Dec 23, 2013). "General Catalyst raises $675M seventh fund, cites growing focus on Silicon Valley". www.bizjournals.com. Retrieved 2023-06-13.
- ↑ Jennings, Katie. "Defying Pullback In Investments, General Catalyst Launches $670 Million Healthcare Fund". Forbes. Retrieved 2023-06-05.
- ↑ 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.
- ↑ "Venture firm General Catalyst loses co-founder". Fortune. Retrieved 2023-09-08.
- ↑ "General Catalyst closes $675M fund to expand presence in Silicon Valley". VentureBeat. 2013-12-23. Retrieved 2023-06-13.
- ↑ Kruppa, Miles (2021-09-29). "General Catalyst launches fund to buy future earnings of tech start-ups". Financial Times. Retrieved 2023-06-09.
- ↑ 13.0 13.1 13.2 Jennings, Katie. "Defying Pullback In Investments, General Catalyst Launches $670 Million Healthcare Fund". Forbes. Retrieved 2023-06-14.
- ↑ Hammond, George (2023-10-16). "General Catalyst in German VC tie-up as part of European tech push". Financial Times. Retrieved 2023-10-23.
- ↑ Butcher, Mike (2021-02-04). "General Catalyst pushes farther into Europe/Israel, hiring Chris Bischoff for London office". TechCrunch. Retrieved 2023-06-09.
- ↑ Lewin, Amy (December 14, 2021). "US VC giant General Catalyst has opened an office in Europe".
- ↑ "General Catalyst expects to invest $100 million in Indian start-ups". www.thehindubusinessline.com. 2023-04-25. Retrieved 2023-06-09.
- ↑ 18.0 18.1 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.
- ↑ "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.
- ↑ "More than 1,000 VC, PE, and investment firms held capital at SVB in 2022". Fortune. Retrieved 2023-06-14.
- ↑ 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.
- ↑ "Top 10 venture capital firms: General Catalyst". fintechmagazine.com. 2020-06-25. Retrieved 2023-06-09.
- ↑ 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.
- ↑ 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.
- ↑ 25.0 25.1 Konrad, Alex. "General Catalyst Doubles Down On Healthcare With $600 Million New Fund". Forbes. Retrieved 2023-06-14.
- ↑ Szkutak, Rebecca (2023-10-14). "Why does General Catalyst want to buy a healthcare system?". TechCrunch. Retrieved 2023-10-23.
- ↑ Chernova, Yuliya. "WSJ News Exclusive | Venture Firm General Catalyst Seeks Bigger Funds Despite Market Downturn". WSJ. Retrieved 2023-07-17.
- ↑ "General Catalyst announces new healthcare company, intent to purchase health system". MobiHealthNews. 2023-10-10. Retrieved 2023-10-23.
- ↑ Szkutak, Rebecca (2023-10-14). "Why does General Catalyst want to buy a healthcare system?". TechCrunch. Retrieved 2023-11-21.
- ↑ Jennings, Katie. "Why VC Firm General Catalyst Wants To Spend Billions To Buy A Hospital System". Forbes. Retrieved 2023-11-21.
- ↑ 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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