General Catalyst Expands European Presence with New London Office

Previously recognized primarily as a U.S. venture capital firm with infrequent European investments, General Catalyst is significantly bolstering its international operations. This strategic shift is marked by the appointment of Chris Bischoff, a seasoned investor based in London, as managing director of the newly established London office.

Bischoff’s Extensive Investment Background

Mr. Bischoff possesses a comprehensive investment history spanning both the United States and European markets. He has been instrumental in funding rounds for prominent companies including Avito, Babylon, Betterment, Cedar, VillageMD, Livongo, and Cityblock Health.

Prior to joining General Catalyst, Bischoff served as a senior investment director at Kinnevik AB, a venture and growth fund. During his tenure, he spearheaded numerous investments, with a particular focus on the healthcare sector, and also collaborated with General Catalyst on deals involving Livongo (now Teladoc, NYSE: TDOC) and Cityblock.

Alignment with General Catalyst’s Values

In a released statement, Bischoff expressed his enthusiasm, stating: “My longstanding admiration for General Catalyst, coupled with successful past collaborations with the team, makes this a logical progression.” He further emphasized his strong alignment with the firm’s core principles, approach, and organizational culture.

General Catalyst’s Existing European Investments

General Catalyst’s commitment to Europe is already evident through prior investments in several innovative companies. These include British used-car platform Cazoo, Rapyd – a fintech-as-a-service provider, and Remote.com, a platform designed for managing remote workforces.

Furthermore, the firm has invested in Bloom & Wild and recently led a $44 million Series B funding round for Multiverse, a company founded by Euan Blair, the eldest son of former U.K. Prime Minister Tony Blair. A long-standing investment in food delivery service Deliveroo also demonstrates their continued interest in the region.

Recent Capital Commitments

Last year, General Catalyst secured $2.3 billion in capital commitments distributed across three distinct funds. These included a $600 million early-stage fund, a $1 billion growth fund targeting companies with annual revenues exceeding $10 million, and a $700 million “endurance fund” dedicated to supporting larger enterprises generating over $100 million in sales.

A Shared Commitment to Enduring Companies

Hemant Taneja, managing partner at General Catalyst, commented: “Having invested alongside and collaborated with Chris as a colleague, I am confident that he shares our dedication to supporting and nurturing enduring companies capable of significantly improving lives.”

Strengthening Healthcare Investment Expertise

Bischoff’s addition will enhance the firm’s existing team of healthcare investors, building upon its involvement in companies such as Livongo, Cityblock, Oscar, Color, and Ro Health.

Leveraging Existing European Expertise

General Catalyst initially increased its focus on European and Israeli technology companies with the appointment of Adam Valkin as managing director. Valkin joined from Accel Partners in London, bringing valuable regional knowledge and experience.

Valkin and Bischoff will jointly oversee investment activities in Europe and Israel, promising increased efficiency with Bischoff now based in London – initially operating from a home office.

Valkin’s Perspective on Bischoff’s Appointment

Valkin stated: “Europe and Israel have firmly established themselves as major hubs for global innovation. Chris’s presence on the ground is a substantial advantage for our firm. I have long recognized his talent as an investor, his impressive portfolio, and his well-deserved reputation as a trusted partner for ambitious founders.”

Valkin’s Investment History

Prior to joining General Catalyst in 2013 to develop the New York office, Valkin led investments in Gocardless, Flywire, Fiverr, and Spotify while at Accel.

A Gradual Expansion into the European Market

In an interview, Valkin explained: “General Catalyst began seriously exploring Europe in 2015, initially with a more opportunistic approach. We invested in several European companies, including Brainly in Poland and Fundbox in Israel. 2016 was a pivotal year, as we led a Series A funding round for Lemonade in Israel and a growth round for Deliveroo in the U.K.”

He continued, “We then decided to become more structured in our European engagement, dedicating more time to founders and gradually increasing our activity. Our European journey began five or six years ago, and we’ve become highly active across the U.K., Europe, and Israel. The key question was when to establish a team on the ground. We first connected with Chris around five years ago, recognizing his importance as a growth-stage investor in Europe.”

Bischoff’s Vision for General Catalyst in Europe

Bischoff added: “General Catalyst’s European investments span both consumer and enterprise sectors, demonstrating a broad approach. My experience includes healthcare, fintech, and consumer industries, which are significant in Europe. The goal is to leverage the full range of General Catalyst’s capabilities across all sectors within Europe.”