US-based venture capital firm General Catalyst has announced the launch of its Fund XII. In a blog, the VC firm said that it has successfully raised $8 Bn fresh capital, including $4.5 Bn for its core VC funds focused on seed and growth equity investments.
Of the fresh capital, $4.5 Bn has been earmarked for its “Ignition, Endurance, and Health Assurance” strategies, $1.5 Bn for its “creation” strategy, and $2 Bn for separately managed accounts.
The firm will look to make investments in startups across the globe operating in sectors like artificial intelligence, defence and intelligence, climate and energy, industrials, healthcare and fintech.
The VC firm said that it has broadened its founder and capital solutions to venture beyond and support founders with a broader partnership.
“In service to this, the first product we invented and scaled is the Customer Value Strategy that helps founders accelerate their scale without access to additional growth equity. This enables businesses to grow sales and marketing channels with non-dilutive capital post product-market fit,” it said.
Earlier this year, General Catalyst merged with Neeraj Arora-led early stage investment firm Venture Highway to expand its presence in India. The merger paved the way for General Catalyst to make cumulative investments in the range of $500 Mn to $1 Bn in early and growth stage startups in the country.
Commenting on the latest announcement, Arora, who is now the managing director of General Catalyst, said, “As we venture beyond with entrepreneurs worldwide to explore new possibilities, the future has never looked more promising. This era is powered by our early-stage core and we are inspired to push the boundaries of what’s possible.”
The VC firm said that besides its merger with Venture Highway in India, it has also joined forces with La Famiglia in Europe in its journey so far. “As we identify opportunities we believe are unmet by the market, we continue to hatch the next generation of potentially category-defining companies,” the blog said.
General Catalyst counts more than a dozen Indian startups, including Zepto, CRED, Spinny, FarMart, STAN, Orange Health, among others, in its India portfolio. Its latest investment in the Indian startup ecosystem was in eldercare startup Primus Senior Living.
