The venture capital giant General Catalyst has raised $8 billion in fresh capital, with $750 million set aside for health care investments as its acquisition of an Ohio safety net hospital undergoes regulatory review.
Fund XII consists of $4.5 billion for funds dedicated to seed and growth equity, $1.5 billion for creating new companies, and $2 billion of “separately managed accounts,” the firm said. It did not immediately clarify how the $750 million in health care funds would be distributed between investment and creation.
General Catalyst, led by Hemant Taneja, has been deepening its health care investments, recently moving to acquire Ohio’s Summa Health, where it aims to have more direct authority over technology products. It also partners closely with a couple of dozen health systems and payers, who have earlier access to emerging technology in General Catalyst’s portfolio and make up what it calls a “health assurance ecosystem.”
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