Venture Highway, based in New Delhi, has announced its merger to Silicon Valley’s venture-capital firm General Catalyst. The merger will allow General Catalyst to expand its presence in India through investments of $500 million to $1billion.
Venture Highway will now be known as General Catalyst India. Its operations and investments will continue under the new name. Neeraj Arora will lead the effort in India. He is the founder of Venture Highway and former WhatsApp CBO. Priya Mohan will be its General Partner.
Today GC welcomes @venturehighway into the GC family! VH is a leading Indian early-stage VC company led by @neerajarora and @TheMadrasVC. Thanks to fantastic work on the ground by partners Alex Tran and @deepnishar, GC… pic.twitter.com/qJhjcFUlNb
— General Catalyst
June 20, 2024
What does the merger mean to Venture Highway’s investment?
Venture Highway was founded in 2014. It has been an early-stage investor for several successful Indian startups including Meesho, a social commerce platform, and Moglix, a B2B marketplace.
Despite the merger all Venture Highway portfolio companies will be managed the same way as before, but under the General Catalyst name.
The combined entity will examine Venture Highway’s portfolio to determine if there are any potential investments. The majority of Venture Highway’s third investment fund has been invested, and future investments will come through General Catalyst.
This is a pivotal point in Venture Highway’s 10-year journey. Samir Sood, my co-founder, deserves a heartfelt thanks for founding Venture Highway with me. Priya Mohan, the entire VH team and their unwavering dedication are greatly appreciated. To our limited partners, advisors and…
— neeraj arora (@neerajarora)
June 20, 2024
Investing as much as $1 billion in Indian startups
General Catalyst plans to invest between $500 and $1 billion in Indian startups in the next three years. The strategy includes early- and growth stage investments across different industries.
“By combining our US seed team, Venture Highway in India, and La Famiglia Europe, we are deeply committed to becoming great at assisting the world’s top founders at the early stages…The combined abilities of the two firms will enable us to be more hands-on in India. Hemant Taneja is the CEO of General Catalyst. He said, “I am particularly excited about bringing co-creation capability to India.”
Focused on key global markets
General Catalyst has a broader strategy that includes a merger with Venture Highway to strengthen its position in key global markets.
The move follows on from a similar strategy used last year, when General Catalyst combined with Berlin-based venture company La Famiglia in order to strengthen its European presence.
General Catalyst is a proven investor in India. Notable investments include the fintech unicorn CRED and used car marketplace Spinny. The firm’s strategy includes developing industry-specific partnerships and incubation strategies to build large Indian enterprises for the global market.
General Catalyst is now India’s second largest venture capital firm, behind firms like Lightspeed Accel and Nexus.
General Catalyst says that the merged entity will play an important role in amplifying Indo-US-European collaboration in AI technology, industry and talent. The firm will also develop incubation and partnerships strategies for specific industries to build large Indian enterprises for the world.