Public announcement or press release by General Catalyst

General Catalyst Raises $8 Billion, Largest Since March 2022, for $4.5B Core Funds, $1.5B Startups, and $2B Investments

Oct 24, 2024, 11:19 AM

General Catalyst has successfully raised approximately $8 billion in new capital, marking the largest fundraising effort by a U.S. venture capital firm since March 2022. The firm plans to allocate $4.5 billion to its core funds, $1.5 billion to create new startups, and $2 billion for investments in other businesses. Hemant Taneja, a representative of General Catalyst, emphasized that the traditional venture capital model does not adequately support founders in transforming industries. The capital will be directed towards ambitious entrepreneurs across sectors including artificial intelligence, defense, climate and energy, industrials, healthcare, and fintech.