Axios Pro Exclusive Content

General Catalyst led 6 of Q1's top health deals

Data: PitchBook; Chart: Axios Visuals

Silicon Valley venture firm General Catalyst is investing in health tech like it's early 2022.

Why it matters: Despite a years-long slump in digital health dealmaking, General Catalyst led and joined many of Q1's highest-profile health care deals.

Zoom in: Of the six health care deals the firm led in the first quarter of the year, three were over $50 million and five were in the double digits.

Case in point: The firm steered a $95.5 million round in Harbor Health, an Austin-based specialty and primary care clinic group founded in 2021.

General Catalyst also led a $60 million Series A in health care operations enabler Fabric Health and a $53 million Series A in health care staffing LLM developer Hippocratic AI, as well as:

By the numbers: Including deals in which it was the lead investor, General Catalyst participated in a total of seven health care fundraises in Q1 2024 for a total of $490.2 million.

Context: Q1 2024 was the lowest first quarter for digital health sector funding since 2019, per a recent Rock Health report.

The other side: Other notable Q1 2024 digital health deals in which General Catalyst did not participate include Abridge's $150 million Series C, Zephyr AI's $111 million Series A and Ambience Healthcare's unlabeled $70 million raise.

Go deeper