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General Catalyst is working on a ‘continuation’ fund worth up to $1B, sources say
General Catalyst, one of Silicon Valley's largest capital firms, is gearing up to launch what’s known as a “continuation fund” worth between $800 million
General Catalyst, one of Silicon Valley’s largest capital firms, is gearing up to launch what’s known as a “continuation fund” worth between $800 million and $1 billion, according to a person familiar with the plans. While private equity firms have used continuation funds for a long time, the mechanism has only recently grown in popularity with venture capitalists, largely because of the dearth of IPOs and slowdown in M&A activity. For instance, In July, Bloomberg reported that NEA sold stakes in 11 portfolio companies, including Databricks and Plaid, to secondary investors who collectively paid$540 million for the assets.
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