General Catalyst Launches Aggressive Seed Program With $25M Annual Commitment
General Catalyst commits to investing at least $25 million annually in seed-stage startups, promising founders quick decisions and ongoing financial support.
General Catalyst is diving deeper into seed-stage funding by committing at least $25 million every year to nascent startup teams. The 19-year-old venture firm is drawing this dedicated capital from its $1.4 billion ninth fund to support founders who possess a clear vision but lack traditional traction or a proof of concept.
Investors Katherine Boyle, Niko Bonatsos, and Peter Boyce are spearheading this new initiative to solve common early-stage fundraising hurdles. They promise founders a response within 48 hours of an initial meeting, initial checks ranging from $500,000 to $2 million, and the assurance that the firm's deep pockets allow it to continue supporting the company as it grows.
The team plans to back 25 to 35 startups annually but remains open to expanding that number for the right opportunities. Bonatsos emphasizes that this strategy is not a spray-and-pray approach, but rather a focused effort to become a significant initial investor and continue backing winners in future funding rounds.