General Catalyst plans to hold in-house transformation companies long-term without IPOs
Mark Bhargava · Inside General Catalyst’s $1.5B AI Roll-Up Machine · Sourcery with Molly O'Shea · Dec 5, 2025 · at 2:28
Mark Bhargava, Managing Director at General Catalyst, details the venture firm's transformation company model compared to its traditional venture fund structure.
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“We have a wealth management business that we've set up to help founders manage their money. That's another company we've built in house that we plan to hold for a very long time. And then finally, we have now an AI consulting business called Percepta that really comes in and changes Fortune 100 companies, helps implement AI, Really leverages everything we've learned from AI investing, and that's another company we've built in-house that we, you know, will hold for a really long time, maybe forever in these cases. So GC as a company is building in-house what we call transformation companies, with these three being examples of businesses we think should exist, are good for society. We're not planning on taking them public. We want to hold them for a really long time.”
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