General Catalyst

95% of the world's internet runs through cables on the seafloor. Endeavor Optical Networks Inc. is moving inter-continental bandwidth to orbit. Proud to co-lead their seed round. In the comments read Jeannette zu Fürstenberg’s conversation with co-founder Charlie Horowitz about how orbit is becoming infrastructure.

"You don't want to see their hopes go up and then come crashing down. And you don't want to be the doctor behind that." Sahir Jaggi founded Forus, an AI-powered network connecting doctors, pharmacies, payers, and biopharma to get medicine to patients faster. Forus exists because one in three patients prescribed a drug for a complex condition never get their first dose. Doctors steer away from the newest medicines when they can't be sure a patient will receive them, resorting to decade-old treatments. Watch Chris Bischoff's full conversation with Sahir in the comments.

Our space series continues. After Carlo Rovelli's prologue on how small we are, the first essay looks at how far we're about to go. SpaceX's listing on the Nasdaq mattered less for its valuation than for what it signals: the physical economy of space is entering an explosive period of growth, on a proven cost curve rather than a future founders still have to invent. The decisions made in the next 24 months will shape the decades after them. Some of the companies that will define that economy already exist. The exciting part is how many don't, yet. By Jeannette zu Fürstenberg, Robin Dechant, and Gosia Majczak. In the comments: Read "The Decade Space Stops Being Hard" and revisit the prologue. 

“We are in a starship zipping through the cosmos. The sky is a porthole that looks out.” We begin our series Space: An Opening with a physicist instead of a market thesis. Before we can think clearly about where capital should go in space, we need a framework for why it goes there at all, explains Jeannette zu Fürstenberg. In his prologue, “Out There,” Carlo Rovelli writes that we are “grains of dust, dreams of a moment” compared to the vastness of space. And yet the vastness calls us out anyway. That paradox is where the series begins. Read "Out There" in the comments.

Founders gathered at the iconic Skywalker Ranch for our inaugural Founders Day: Riunione della Famiglia. Hemant Taneja sat down with Patrick Collison for a fireside chat on the early days of Stripe and building an enduring company. Fareed Zakaria unpacked the geopolitical moment over lunch. In the afternoon, founders traded lessons with one another, from open vs. closed models to the post-PMF valley of death. Grateful to everyone who joined us.

We first backed Dwelly in 2024, and we're energized to deepen the partnership today by co-leading its $170M Series B. Property management still runs on email and phone calls. Dwelly is buying UK letting agencies and rebuilding them from the inside with AI, cutting time-to-let by about 30% and repair times by nearly half. Our AI roll-up ambition is to reinvent the everyday services people rely on, and Dwelly is the blueprint in Europe. Congratulations to Ilia Drozdov, Dan Lifshits, Dmitry Khanukov, and the entire team.

"These rent seekers who set drug prices care nothing about the patient." A. J. Loiacono saw that the same drug can have 600 different prices in a month, and a $120 copay is enough to make a third of Americans skip their prescription. He built Judi Health as a single system that processes prescription and medical claims for employers, so Americans get healthcare at the right price. Watch Holly Maloney's full conversation with AJ in the comments.

Congratulations to Chai Discovery on its $400M Series C. Chai treats medicine design as an engineering problem, one that can be solved with precision, speed, and scale. Eli Lilly, Pfizer, and Novartis are running its generative design suite, including the latest model Chai-3, against drug targets that have defeated traditional discovery methods. We co-led Chai's Series B, and we're proud to keep backing Joshua Meier, Jack Dent, Matthew McPartlon, Jacques Boitreaud, and the entire team.

Congratulations to Helsing on its $1.8B Series E. Helsing is one of the most consequential AI companies in Europe, bringing AI-native software to defense systems. These capabilities strengthen Europe’s deterrence and enable its democratic institutions to flourish. We’re proud to deepen our partnership with Dr. Gundbert Scherf, Torsten Reil, Niklas Köhler, and the entire team.