Bloomberg: General Catalyst plans to raise approximately $10 billion to compete with a16z.

Venture capital firm General Catalyst is in discussions with investors for a new round of fundraising, potentially totaling around $10 billion. Sources familiar with the matter indicate the funds are intended to be allocated across multiple investment vehicles, including early-stage venture capital funds and growth funds. Negotiations are still in the early stages, and the final fundraising size is subject to change. General Catalyst has previously invested in numerous cryptocurrency and blockchain companies. In recent years, the firm has been expanding beyond traditional venture capital models to encompass a broader financial platform and increasing its investments in areas such as financial services. If this round of fundraising is completed, General Catalyst's capital strength will be significantly enhanced, potentially allowing it to compete with a16z and further solidify its position among major US venture capital firms. (Bloomberg)