Venture capital firm General Catalyst is discussing plans with investors to raise around $10 billion in new funding, according to a report by Bloomberg.
The proposed capital would be allocated across several investment vehicles, including the firm’s early-stage venture and growth funds, according to one of the people. The discussions are still in the early stages, and the fundraising target could change.
Expanding beyond traditional venture capital
General Catalyst has traditionally backed technology startups such as Airbnb and Stripe. In recent years, however, the firm has broadened its strategy beyond conventional venture investing.
The firm has been positioning itself as a wider financial platform and has increased investments across sectors, including artificial intelligence, defence technology, healthcare, climate technology and financial services.
According to Bloomberg, General Catalyst has also moved into other areas of finance, including investing in other funds and acquiring investment firms. One example is its acquisition of La Famiglia.
The VC had more than $40 billion in assets under management as of last summer. If completed, the new fundraising could significantly expand the firm’s capital base and place it among the largest venture firms in the United States.
In 2024, the firm raised around $8 billion, including $4.5 billion dedicated to venture capital investments and $3.5 billion for other strategies, according to Bloomberg.
The company has also experimented with approaches more commonly seen in private equity, including encouraging its portfolio startups to acquire other companies. Under the leadership of investor Hemant Taneja, the firm has backed startups across several emerging technology sectors.
Recent investments include companies such as Anduril Industries and artificial intelligence firm Anthropic.
