General Catalyst targeting $10B fund
Mega-funds might be back — General Catalyst is reportedly targeting a $10B fund, and Spark Capital $3B [https://x.com/dailytechonx/status/2032172058319175807]. What types of startups will they target with these funds?
General Catalyst is reportedly targeting a $10 billion fund, potentially one of the largest venture funds ever assembled. The firm, which already has over $40 billion in assets under management, has been expanding beyond traditional venture capital, moving into healthcare and acquiring venture debt firms. Spark Capital, known for early investments in companies like Twitter, Slack, and Coinbase, is also seeking $3 billion in fresh capital. This represents a significant increase from its previous funds and would allow it to lead late-stage rounds. General Catalyst has been increasingly focused on AI, deploying significant capital into the sector, including a $1.5 billion AI roll-up strategy. They've been investing in applied AI to transform core industries since 2017. Spark Capital was also an early backer of Anthropic in 2023.
