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General Catalyst targeting $5bn for flagship VC fund

Venture capital firm General Catalyst is looking to raise at least $5 billion for its next flagship fund, according to a report by Bloomberg, citing an unnamed source. The firm’s last fund raised $4.6 billion and closed in February 2022.

According to the Reuters source, General Capital has already begun sounding out existing investors about committing to what will be its 12th investment vehicle, although no final decisions on the fund’s size have been made and formal fundraising isn’t expected to begin until later this year.

The Cambridge, Massachusetts-based company, which is led by chief executive officer Hemant Taneja and bets on a range of industries, including health care, fintech, crypto, artificial intelligence, climate and education, has previously backed startups including Stripe, Airbnb Inc, Snap Inc, Warby Parker Inc, and Instacart. 

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