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Article: VC mega-funds are back with General Catalyst, Spark rumored to be raising billions

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5 / 10

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Several major venture capital firms are raising or have raised massive new funds in early 2026, including General Catalyst targeting $10 billion, Founders Fund closing $6 billion, and Spark Capital seeking $3 billion. This follows recent $10 billion and $15 billion raises by Thrive and Andreessen Horowitz, respectively.

These efforts indicate that well-established VC firms are amassing unprecedented amounts of capital, despite already holding record levels of uninvested "dry powder" at the end of 2025.

The influx suggests that 2026 will likely see continued large funding rounds and high valuations, particularly for seed-stage AI startups.

Main topics: Venture capital fundraising, specific firm activities (General Catalyst, Spark Capital, Founders Fund), the trend of large AI startup investments.

Original URL

https://techcrunch.com/2026/03/11/vc-mega-funds-are-back-with-general-catalyst-spark-rumored-to-be-raising-billions/

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TechCrunch

Published Date

2026-03-11 17:53

Fetched Date

2026-03-11 15:30

Processed Date

2026-03-11 15:32

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Present

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Following news last month that New York’s hottest venture firm, Thrive, just raised $10 billion for a new fund — its largest ever, double the previous one — another big-name VC firm is attempting to equal that raise. General Catalyst is in talks to raise $10 billion, unnamed sources tell Bloomberg. This firm, which has recast itself as a broader financial services company, raised $8 billion just a couple of years ago in 2024.
Meanwhile, Spark Capital is trying to raise $3 billion, sources tell The Information, which would also be a big boost from its previous funds. And, as TechCrunch just exclusively reported, Founders Fund is about to close a new $6 billion fund, too.
All of this follows Andreessen Horowitz’s $15 billion in new funding announced in January.
Venture firms were already sitting on a record amount of dry powder, meaning money available but not yet invested, at the end of 2025, according to the year-end report by PitchBook and the National Venture Capital Association. But 2026 is already shaping up to be a year of bigger and more, at least for venture firms with name recognition and enviable portfolios.
The obvious prediction is that VCs have plenty of money to keep fueling seed-stage AI startups with huge initial rounds and valuations. Record-breaking funding rounds for startups (as long as they are AI) will likely continue to be the new normal for 2026.