BENGALURU :The Silicon Valley-based venture capital firm General Catalyst acquired New Delhi-based Venture Highway, an early-stage investor with plans to invest $500-$1 billion in India.
The new entity, General Catalyst India, will focus on early and growth stage investments in India.
“The combined abilities of the two companies will allow us to become much more hands-on, and effective in India going forward.” In a Thursday post on X, Hemant Taneja said, “I am particularly excited about bringing our Co-creation capability to India.”
Venture Highway, which raised 78.6 millions for its second fund by 2020, has invested in social-commerce startup Meesho as well as B2B ecommerce platform Moglix, and HR-tech startup BetterPlace.
Neeraj Arora was the former Chief Business Officer at WhatsApp when he co-founded the company in 2014. Priya Mohan, the co-founder, joined the team in 2018
General Catalyst manages assets of over $25 million worldwide. It has backed startups like graphic design platform Canva and travel marketplace Airbnb. It has backed over a dozen startups in India, including CRED, a fintech company, and Spinny, a used-car marketplace.
Recent investments in India by several VC firms, including Accel and Nexus Venture Partners, have raised more than $500 million.
General Catalyst, in a blogpost published on its website, stated that India’s economic and political agency in the world was growing. This growth is supported by both macro- and micro-tailwinds. It said that it was not enough to view India as just another “investment destination” and “vast geography”.
The firm stated that “the country’s diverse cultures, consumer psychology, and deep structural idiosyncrasies require a level understanding that numbers often don’t do justice to.”
3.6 Crore Indians visited us in a single session, making us India’s most popular platform for General Election Results. Here you can find the latest updates!
Published: 20 Jun 2024, 01:42 PM IST