General Catalyst

From Wikipedia, the free encyclopedia

General Catalyst
Company typePrivate
IndustryVenture Capital
Founded2000; 24 years ago (2000)
Founders
HeadquartersCambridge, MA,
U.S.
Number of locations
Area served
Key people
ProductsInvestments
Number of employees
200
Websitegeneralcatalyst.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, Buildkite, 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][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 it 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]

  1. ^ Jennings, Katie. "Defying Pullback In Investments, General Catalyst Launches $670 Million Healthcare Fund". Forbes. Retrieved June 5, 2023.
  2. ^ Chernova, Yuliya (July 12, 2023). "Venture Firm General Catalyst Seeks Bigger Funds Despite Market Downturn". Wall Street Journal. ISSN 0099-9660. Retrieved October 23, 2023.
  3. ^ a b "VC General Catalyst to boost India investments". The Times of India. April 25, 2023. ISSN 0971-8257. Retrieved June 5, 2023.
  4. ^ Chernova, Yuliya. "Goldman Sachs to Buy $200 Million Stake in General Catalyst". WSJ. Retrieved July 17, 2023.
  5. ^ Farrell, Maureen (November 8, 2021). "A former SoftBank executive will join the Silicon Valley venture firm General Catalyst". The New York Times. ISSN 0362-4331. Retrieved June 14, 2023.
  6. ^ a b Bertoni, Steven. "Venture Capital Firm General Catalyst Raises $2.3 Billion Amid Coronavirus Crisis". Forbes. Retrieved June 5, 2023.
  7. ^ Alspach, Kyle (December 23, 2013). "General Catalyst raises $675M seventh fund, cites growing focus on Silicon Valley". www.bizjournals.com. Retrieved June 13, 2023.
  8. ^ a b "General Catalyst closes $675M fund to expand presence in Silicon Valley". VentureBeat. December 23, 2013. Retrieved June 13, 2023.
  9. ^ Jennings, Katie. "Defying Pullback In Investments, General Catalyst Launches $670 Million Healthcare Fund". Forbes. Retrieved June 5, 2023.
  10. ^ 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.
  11. ^ "Venture firm General Catalyst loses co-founder". Fortune. Retrieved September 8, 2023.
  12. ^ Kruppa, Miles (September 29, 2021). "General Catalyst launches fund to buy future earnings of tech start-ups". Financial Times. Retrieved June 9, 2023.
  13. ^ a b Jennings, Katie. "Defying Pullback In Investments, General Catalyst Launches $670 Million Healthcare Fund". Forbes. Retrieved June 14, 2023.
  14. ^ Hammond, George (October 16, 2023). "General Catalyst in German VC tie-up as part of European tech push". Financial Times. Retrieved October 23, 2023.
  15. ^ Butcher, Mike (February 4, 2021). "General Catalyst pushes farther into Europe/Israel, hiring Chris Bischoff for London office". TechCrunch. Retrieved June 9, 2023.
  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. April 25, 2023. Retrieved June 9, 2023.
  18. ^ a b 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.
  19. ^ "Top VCs in a huddle to discuss Silicon Valley Bank collapse, vow to be 'supportive'". The Economic Times. March 11, 2023. ISSN 0013-0389. Retrieved June 9, 2023.
  20. ^ "More than 1,000 VC, PE, and investment firms held capital at SVB in 2022". Fortune. Retrieved June 14, 2023.
  21. ^ Chernova, Yuliya (July 12, 2023). "WSJ News Exclusive | Venture Firm General Catalyst Seeks Bigger Funds Despite Market Downturn". Wall Street Journal. ISSN 0099-9660. Retrieved November 21, 2023.
  22. ^ "Top 10 venture capital firms: General Catalyst". fintechmagazine.com. June 25, 2020. Retrieved June 9, 2023.
  23. ^ Loizos, Connie (March 18, 2019). "General Catalyst just carved out an aggressive new seed-stage program -- here's what to know". TechCrunch. Retrieved June 9, 2023.
  24. ^ Bruce, Giles (August 29, 2022). "General Catalyst: Why the VC firm with an unassuming name should have healthcare's attention". www.beckershospitalreview.com. Retrieved June 9, 2023.
  25. ^ a b Konrad, Alex. "General Catalyst Doubles Down On Healthcare With $600 Million New Fund". Forbes. Retrieved June 14, 2023.
  26. ^ Szkutak, Rebecca (October 14, 2023). "Why does General Catalyst want to buy a healthcare system?". TechCrunch. Retrieved October 23, 2023.
  27. ^ Chernova, Yuliya. "WSJ News Exclusive | Venture Firm General Catalyst Seeks Bigger Funds Despite Market Downturn". WSJ. Retrieved July 17, 2023.
  28. ^ "General Catalyst announces new healthcare company, intent to purchase health system". MobiHealthNews. October 10, 2023. Retrieved October 23, 2023.
  29. ^ Szkutak, Rebecca (October 14, 2023). "Why does General Catalyst want to buy a healthcare system?". TechCrunch. Retrieved November 21, 2023.
  30. ^ Jennings, Katie. "Why VC Firm General Catalyst Wants To Spend Billions To Buy A Hospital System". Forbes. Retrieved November 21, 2023.
  31. ^ Ravindranath, Mohana (November 1, 2023). "Venture capitalists want to own hospitals. Can they do better than private equity?". STAT. Retrieved November 21, 2023.
Retrieved from "https://en.wikipedia.org/w/index.php?title=General_Catalyst&oldid=1219665011"