Airbnb backer General Catalyst starts $675 million venture fund SAN FRANCISCO Mon Dec 23, 2013 2:31pm EST Email Print SAN FRANCISCO (Reuters) - Airbnb backer General Catalyst said on Monday it has established a new $675 million venture-capital fund to invest in early-stage technology firms. The firm, known for investments in fleeting photo-sharing service Snapchat, payments service Stripe, and accommodation service Airbnb, said in a blog post the new fund - its seventh - would grow its presence in Silicon Valley. A fund of $675 million is considered large in the venture capital business. While the occasional fund crosses the $1 billion mark, most add up to well under $300 million. General Catalyst's last fund was a $500 million vehicle raised in 2011. (Reporting by Sarah McBride; Editing by Krista Hughes) FILED UNDER:
Saturday, January 11, 2014
Airbnb Backer General Catalyst Starts $675 Million Venture Fund
Airbnb backer General Catalyst starts $675 million venture fund SAN FRANCISCO Mon Dec 23, 2013 2:31pm EST Email Print SAN FRANCISCO (Reuters) - Airbnb backer General Catalyst said on Monday it has established a new $675 million venture-capital fund to invest in early-stage technology firms. The firm, known for investments in fleeting photo-sharing service Snapchat, payments service Stripe, and accommodation service Airbnb, said in a blog post the new fund - its seventh - would grow its presence in Silicon Valley. A fund of $675 million is considered large in the venture capital business. While the occasional fund crosses the $1 billion mark, most add up to well under $300 million. General Catalyst's last fund was a $500 million vehicle raised in 2011. (Reporting by Sarah McBride; Editing by Krista Hughes) FILED UNDER:
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