General Catalyst, formerly General Catalyst Partners (GCP), is a venture capital firm founded in 2000. It was established by Bill Fitzgerald, David Fialkow, David Orfao, and Joel Cutler. General Catalyst is headquartered in Cambridge, Massachusetts with additional offices in New York City, San Francisco, Palo Alto, and London. General Catalyst invests in seed-stage, early-stage, later-stage, and growth-stage companies in the consumer, enterprise, financial technology, cryptocurrency, health assurance, software, transportation, big data, and technology sectors.
In 2011, the firm opened an office in Palo Alto and shortly after raised a $500 million fund. In 2013, it announced a $675 million fund followed by a $845 million fund in 2016. In 2018, the company raised $1.4 billion for its ninth fund. As of October 2019, the firm has sold off its shares in 193 companies and is currently managing a portfolio of 226 companies. In August 2021, General Catalyst announced a deal with for-profit healthcare provider HCA Healthcare to develop digital solutions to streamline workflows and improve patient care; as part of the deal, General Catalyst's portfolio company Commure bought HCA's healthcare app development firm PatientKeeper.
General Catalyst makes investments in early-stage companies and offers transformational investments in later rounds for entrepreneurs and start-up companies building technology the firm finds innovative or in companies that offer market-leading businesses. The firm invests in companies with the intention to work with the portfolio company through their entire lifecycle, from early- to growth-stages and beyond.
The firm's strategy is split through different company stages, starting at the creation stage, at which point General Catalyst works with entrepreneurs and industry leaders to create new companies and identify existing growth-stage companies to support and scale. These partnerships are not only intended to help companies grow through an accelerated trajectory but also to positively shape the industry the company is in.
Following this very early-stage, General Catalyst splits its investment strategy for seed- and early- (Series A and Series B) stages, with investment amounts for businesses based on the growth of the company and the market the company is in, particularly when the firm feels the company is offering something new in an industry set for change. Growth- and late-stage investments follow, focusing on investments in companies that offer strong potential for scale. Finally, late-stage investments are offered to companies operating with the discipline of a public company preparing to go public.
General Catalyst further breaks the firm's investment strategy down based on specific industry. For example, in the healthcare industry, General Catalyst has a focus on healthcare companies working to make a more proactive, affordable, and equitable care system, with investments in businesses offering solutions at the intersection of technology, healthcare, and pharmaceuticals. Similarly, for consumer-focused companies, General Catalyst looks to invest in product and platform teams that change the way people engage with each other and the world around them, including brands and companies that change industry dynamics. Whereas for enterprise companies, General Catalyst seeks to invest in business platforms that alter the way businesses go about their daily work. And in financial technology and cryptocurrency, General Catalyst looks for investments in companies developing new financial platforms.
Associated Investment Funds
Funding Rounds Participated In
'We're Certainly Not Slowing Down': General Catalyst's Pedal-to-the-Metal Approach to Behavioral Health Investment
January 3, 2023
Defying Pullback In Investments, General Catalyst Launches $670 Million Healthcare Fund
July 20, 2022
General Catalyst just announced $2.3 billion in new capital commitments across three funds | TechCrunch
March 31, 2020
General Catalyst to invest up to $150 million to help Lemonade acquire new customers | CTech
June 29, 2023
General Catalyst: Why the VC firm with an unassuming name should have healthcare's attention
August 29, 2022