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Most-Active US Investors In February: General Catalyst Goes Big In Slow Month

Image of money-filled glass jar labeled Feb.

This is a monthly feature that runs down some of the most-active investors in U.S.-based companies, looks at some of their most interesting investments, and includes some odds and ends of who spent what. See January’s most-active startup investors here.

February is a short month and this year it was very slow for some of the big-name venture firms.

In fact, only recorded a double-digit number of deals last month, taking part in 15 and leading or co-leading a handful. was the only other firm that took part in more than a half-dozen deals involving U.S.-based startups last month.

General Catalyst, 15 deals

It may have been a slow month for most firms, but not for — which had its busiest month in more than a year when it came to investing in U.S.-based startups.

And not only did General Catalyst invest in a lot of rounds — it went big. The firm co-led, along with Saudi Arabia’s , the massive $305 million funding round for at a $3.3 billion valuation. The startup makes a cloud platform for developers to build on open and custom artificial intelligence models.

General Catalyst also led the $200 million Series E for , a developer of security systems for the real world, and took part in autonomous surface vessels maker ’s $600 million Series C led by investor and ’ $351 million Series D.

Lightspeed Venture Partners, 8 deals

had its busiest month since last October, investing in eight rounds involving U.S.-based startups.

The VC giant co-led satellite platform developer ’s $110 million Series B with .

It also participated in a slew of big rounds, including the previously mentioned Saronic round, medical document startup ’s $250 million round co-led by and , and application security startup ’s $100 million Series D funding led by .

Andreessen Horowitz, 6 deals

Unlike General Catalyst and Lightspeed, had an unusually slow month, consummating just a half-dozen deals — its lowest total since last April.

The firm also didn’t lead or co-lead any big rounds. It did take part in Saronic’s massive raise, as well as AI-powered fraud detection platform ’s $70 million Series C led by , and San Francisco-based usage-based billing platform ’s $50 million Series C led by .

First Round Capital, 6 deals

Philadelphia-based makes this list for the first time as it doubled its investment totals from January.

The biggest round the early-stage investor took part in last month was the previously mentioned

First Round also took part in the $49 million Series B for San Francisco-based , a generative media platform for developers to create applications. It also led a $6.5 million round for legal tech startup

Also notable:

  • , , , , and all came in next on the list with five deals each.
  • and led the way in most-led or co-led deals in February with a three apiece.
  • led the way in terms of number of rounds led or co-led with the highest dollar amounts — with the three rounds totaling $610 million.
  • once again was the top investing incubator and accelerator with 24 deals in February.

Related reading:

Methodology

This is a list of investors which took part in the most rounds involving U.S.-based startups. It does not include incubators or accelerators due to the fluctuations their investment numbers can have.

Illustration:

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