General Catalyst Lands A Massive $8B In New Capital For Funds

General Catalyst — whose investments embody Airbnb, Instacart and Mistral AI — has raised $8 billion in new capital because it appears to “turbocharge” its investments in sectors like AI, protection, local weather, healthcare and fintech.

The agency’s newest fund — Fund XII — will see about $6 billion of the brand new capital, together with round $4.5 billion for its core funds centered on seed and progress fairness, and $1.5 billion for its creation technique. The remaining $2 billion will go towards individually managed accounts.

“We’re able to be the corporate that drives transformations, world resilience and utilized AI for the world,” wrote Hemant Taneja, CEO and managing director at Common Catalyst, in a blog asserting the brand new capital. “We’re powered by early-stage enterprise capital at our core and excited to dream greater and co-create with our GC Famiglia of founders, enterprise leaders and policymakers to develop what’s potential.”

Not slowing down

Common Catalyst has been busy whilst a lot of the enterprise world has slowed lately.

Final yr, the Cambridge, Massachusetts-based agency made 99 totally different funding offers, per Crunchbase data. This yr, Common Catalyst already has made 102 offers.

That features some latest massive offers, resembling main transportation cost options supplier AtoB’s $130 million Sequence C with Bloomberg Beta final month and AI-powered coding assistant Codeium’s $150 million Series C in August.

Common Catalyst’s information comes after earlier this month it was reported CRV informed its buyers it will return the $275 million that it has not but invested from its $500 million Choose fund for extra mature startups. The agency mentioned it was doing so as a result of valuations had been too excessive as they relate to potential returns.

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Illustration: Dom Guzman