General Catalyst, the Powerhouse Venture Firm, is considering an IPO, Axios reported Friday morning, citing “multiple sources.”
TechCrunch contacted the company's managing partner Hemant Taneja for comments. In the meantime, those following the general catalyst trajectory will not be surprised by prospects.
Founded 25 years ago as General Catalyst (GC), a venture company based in small Cambridge, Massachusetts, its capital commitment began at $73 million. Ten years later, armed with balloon assets and pre-IPO interests from software companies such as Demandware and Brightcove, Taneja and then partner Neil Sequeira, they installed the shop in an attractive yellow building with white trim on University Avenue in Palo Alto. There, GC quickly marks the Bay Area, and the software cuts remind us of East Coast success, while also building a deep connection with the rewarded Y-combinator. In 2011, the company secured a stake in Airbnb. In 2012, we committed to supporting all invisible Y-combinator startup sites.
The same year, in July 2012, GC led the Stripe Series B round. By evaluating the most successful alums of Y Combinators now, despite the fintech giant claiming that there is no immediate plan to be released.
Meanwhile, GC itself has grown exponentially. Sekiira left to launch his own store in 2015, but GC today has a vast team with 20 managing directors, over $30 billion in assets and an office from San Francisco to Bengaluru. It also expands far beyond traditional venture investments. As I mentioned after talking to Taneja about the podcast in October, the company is barely recognised by its previous self. Among other moves, he was in the process of launching fundraising products, developing wealth management businesses, acquiring a small healthcare system in Ohio, and purchasing two small ventures.
The question Axios asks is whether GC will become the first venture to be published. It's not only a question of whether the company decides to move forward, but whether the mere story of offering speeds up plans for other heavyweight companies like Andreessen Horowitz seems to be turning to the same award.