Venture capital firm based in Cambridge, Massachusetts Inasmuch asGeneral CatalystInasmuch aswho has supported companies like , Inasmuch asBandagedInasmuch as and globally, will increase its investment in India in the coming months.
The independent stage company incorporated the former Deep Nishar, senior managing partner of SoftBank, in November 2021 and named former CPO of Five9 and executive at Snapdeal Anand Chandrasekaran as partner in January 2022 to direct its investments in India.
“We’ve invested over $150 million and a big chunk of it in the past two months, which is reflected in the deal flow. We will announce three investments this week,” Anand said at a news conference hosted by General Catalyst.
The fund has already announced its investment in the agritech company, FarMart.
The fund that raised nearly $5 billion from its $600 million health insurance fund and $4.6 billion under its XI fund has invested in Indian startups, including fintech company CRED, the car resale platform Spinny, the CityMall social commerce platform and others, covering nearly 12 startups.
The XI fund includes its $800 million startup vehicle to hatch businesses, the $1.1 billion seed and start-up vehicle ignition fund, and its $2.7 billion growth fund. dollars, the endurance fund.
Almost seven out of 12 investments in Indian companies have been made this yearsaid Deep Nishar, CEO of General Catalyst.
“We will continue to invest in the big four segments of fintech, consumer tech, enterprise tech, and healthcare, which General Catalyst is doing. Other than that, we have spent time with nearly 40 companies that are building around crypto and Web3 in India,” Deep said at the event.
He added: “We are seeing a variety of models coming out and most of them fit well within the regulatory framework.”
Another area of focus for the fund continues to be business-to-business SaaS (software as a service) model.
Fund executives added that they are looking to invest in more neobanks in India, in addition to fintechs like CRED because of the huge opportunity. It should be noted that one of the fund’s top portfolio companies and the most valuable startup in the United States, Stripe, also announced a deeper push into the Indian market through its investment in Clear and the acquisition from Recko, based in Bengaluru, in October 2021.
Although General Catalyst has not announced a target number for an India-specific rollout or a separate fund structure. “We are still thinking about the best way. In Europe, we actually invest from the same global funds in the seed fund and the growth fund. The question remains what will be the best culture for the company – we will let time be our best friend,” said Hemant Taneja, managing partner at General Catalyst.