PYMNTS.com April 28, 2024
Venture capital (VC) operation General Catalyst has reportedly raised almost $6 billion for technology startups.
The company, which has invested in Stripe, Snap and Mistral, could close its newest fund as soon as May, the Financial Times reported Sunday (April 28), citing sources familiar with the matter who say the funds will be invested in various sectors including defense, space, climate, FinTech and healthcare in Europe, India and the United States.
The report said the fund signals that institutional investors, endowments and foundations, known as limited partners, are still willing to give their money to high-profile firms even as a drought impacts the fundraising space.
PYMNTS has contacted General Catalyst for comment but has not yet gotten a reply.
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