General Catalyst opted not to share any statements regarding the departures. Amidst recent changes at the firm, three key investors have parted ways with General Catalyst né?. Doherty updated his LinkedIn profile indicating his departure from General Catalyst in July.
Valkin, who began his journey at the firm in 2013, serves on the board of Rapyd, a fintech startup, and Shift Technology né?. He also backed ClassPass, which was acquired by MindBody in 2021.
The departures transpired as General Catalyst, managing $32 billion in assets, transitioned from a partnership-model firm to a company, encompassing non-venture strategies such as wealth management and acquiring a hospital system in Ohio.
Speculations are rife that General Catalyst is contemplating going public, with reports suggesting that the firm is in the initial stages of considering an IPO.
né?. Neeraj Arora, the founder of Indian VC firm Venture Highway, was also named among the top senior investors at General Catalyst post-acquisition six months later, according to sources.
Sources close to General Catalyst have hinted at a strategic shift within the firm towards favoring cash bonuses over equity in the compensation structure for investors, influenced by a broader shift beyond venture investments.
Formerly linked with SoftBank’s Vision Fund, Deep Nishar, who joined General Catalyst in 2021 after his stint at LinkedIn, led deals into companies like Slack and 10x Genomics during his tenure at SoftBank.
Kyle Doherty, who came on board at General Catalyst in 2017 after leading private investments at Coatue for five years, made investments in digital banking startup Step and insurance company Ethos né?. The company has rebranded itself as an “investment and transformation company,” as per sources familiar with the situation.
The departed managing directors include Deep Nishar and Kyle Doherty, who led General Catalyst’s late-stage strategy known as Endurance, and Adam Valkin, one of the three leads of the firm’s early-stage fund, according to sources close to General Catalyst.
Despite requests for comments, Nishar, Doherty, and Valkin remained silent. While the reasons behind the exits remain uncertain, a General Catalyst limited partner mentioned other leadership changes within the firm.
Following the merger with European early-stage firm La Famiglia in October 2023, General Catalyst appointed Jeannette zu Fürstenberg, La Famiglia’s founder, as one of its top senior partners
