General Catalyst in talks to raise $10 billion fund

General Catalyst, a venture capital firm, is in talks to raise a new $10 billion fund, according to unnamed sources. This target represents an increase from the $8 billion the firm raised in 2024. The fundraising effort comes as General Catalyst continues its ongoing evolution, recasting itself from a traditional venture capital firm into a broader financial services entity.

The discussions at General Catalyst are part of a wider trend of venture capital firms securing large amounts of capital. Several other firms have recently closed or are currently raising multi-billion dollar funds:

• Thrive, a New York-based venture capital firm, raised $10 billion for a new fund last month, according to a source.
• Andreessen Horowitz, another venture capital firm, announced $15 billion in new funding in January, according to a source.
• Spark Capital is trying to raise $3 billion, according to reports from The Information.
• Founders Fund is about to close a new $6 billion fund, according to reports from TechCrunch.

This surge in fundraising follows a year-end report from PitchBook, a financial data and software company, and the National Venture Capital Association, a US trade association for the venture capital industry. The report, published at the end of 2025, noted that venture firms were already sitting on record levels of “dry powder”—defined as capital available but not yet invested. The new pools of capital being raised in early 2026 suggest that the trend of large-scale fundraising is continuing.

The accumulation of these multi-billion dollar funds is expected to have a direct impact on the startup ecosystem. With record levels of capital available, venture firms are positioned to continue supporting seed-stage AI startups, ensuring that capital for early-stage artificial intelligence companies remains abundant throughout 2026.

Why it matters

The fundraising activity suggests that capital for seed-stage AI startups will remain abundant throughout 2026, as venture capital firms secure multi-billion dollar funds.