Venture capital giant General Catalyst has set aside $750 million for healthcare investments, raising $8 billion in funding as its acquisition of an Ohio safety-net hospital undergoes regulatory review.
The company said Fund XII consists of $4.5 billion in dedicated seed and growth stocks, $1.5 billion in new company formations and $2 billion in “separately managed accounts.” It was not immediately clear how the $750 million health fund would be divided between investment and creation.
Physician buy-in will determine success or failure of VC firm General Catalyst’s bold hospital deal
General Catalyst, led by Hemant Taneja, has been ramping up investments in health care, recently moving to acquire Ohio-based Summa Health to give it more direct control over technology products. are. The company also works closely with dozens of health systems and payers, giving them early access to emerging technologies in General Catalyst’s portfolio and forming what the company calls a “health assurance ecosystem.” are.
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