The Truth is Powerful
Defying Pullback In Investments, General Catalyst Launches $670 Million Healthcare Fund
There’s a bright side to the market doldrums, says managing partner Hemant Taneja: stronger companies will rise to the top as frothiness subsides.
The past few weeks have been marked with layoffs and rescinded job offers from a number of major technology companies. The digital health industry has been no exception to this trend: primary care unicorn Carbon Health, medical billing processor Cedar and virtual care company Ro, among many others. The war in Ukraine, supply-chain hurdles and an end to most pandemic restrictions in the U.S. and Europe have taken their toll. Hemant Taneja, Managing director of General Catalyst Hemant Taneja, however, isn’t worried. Speaking from his office in Palo Alto, he’s calm and optimistic about the years ahead. The General Catalyst managing partner and veteran venture capitalist even sees a bright side to the market downturn, which he says “brings a lot more rigor to company building and discipline that a lot of people had sort of forgotten.”
That’s why, as the world is moving through the third year of the Covid-19 pandemic, which both “accelerated and eviscerated” the U.S. healthcare system, the 22-year-old Cambridge, Massachusetts-based venture capital firm is redoubling its efforts in the healthcare industry. […]