General Catalyst — whose investments include Airbnb, Instacart and Mistral AI — has raised $8 billion in new capital as it looks to “turbocharge” its investments in sectors like AI, defense, climate, healthcare and fintech.
The firm’s latest fund — Fund XII — will see about $6 billion of the new capital, including around $4.5 billion for its core funds focused on seed and growth equity, and $1.5 billion for its creation strategy. The remaining $2 billion will go toward separately managed accounts.
“We are ready to be the company that drives transformations, global resilience and applied AI for the world,” wrote Hemant Taneja, CEO and managing director at General Catalyst, in a blog announcing the new capital. “We are powered by early-stage venture capital at our core and excited to dream bigger and co-create with our GC Famiglia of founders, business leaders and policymakers to expand what’s possible.”
Not slowing down
General Catalyst has been busy even as much of the venture world has slowed in recent years.
Last year, the Cambridge, Massachusetts-based firm made 99 different funding deals, per Crunchbase data. This year, General Catalyst already has made 102 deals.
That includes some recent large deals, such as leading transportation payment solutions provider AtoB’s $130 million Series C with Bloomberg Beta last month and AI-powered coding assistant Codeium’s $150 million Series C in August.
General Catalyst’s news comes after earlier this month it was reported CRV told its investors it will return the $275 million that it has not yet invested from its $500 million Select fund for more mature startups. The firm said it was doing so because valuations were too high as they relate to potential returns.
Related reading:
Illustration: Dom Guzman
Stay up to date with recent funding rounds, acquisitions, and more with the
Crunchbase Daily.
Source link
#General #Catalyst #Lands #Massive #Capital #Funds
ai improve text
ai text generator tools
best ai text generators
blues metronome
brain bravida
comfyui ndi
data governance failures
fivetran blind
h&r block taxes generative ai
insurance denials builds aipowered for fighting
Unlock the potential of cutting-edge AI solutions with our comprehensive offerings. As a leading provider in the AI landscape, we harness the power of artificial intelligence to revolutionize industries. From machine learning and data analytics to natural language processing and computer vision, our AI solutions are designed to enhance efficiency and drive innovation. Explore the limitless possibilities of AI-driven insights and automation that propel your business forward. With a commitment to staying at the forefront of the rapidly evolving AI market, we deliver tailored solutions that meet your specific needs. Join us on the forefront of technological advancement, and let AI redefine the way you operate and succeed in a competitive landscape. Embrace the future with AI excellence, where possibilities are limitless, and competition is surpassed.