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General Catalyst launches FuturePresent with $300M for AI startups

Source: axios.com

General Catalyst announced FuturePresent, a new AI-focused venture fund, alongside partners Cherry and an unnamed entity.
The fund raised $300 million to invest in early-stage AI companies building practical applications.
This move signals big VC bets on AI's near-term commercial potential amid hype fatigue.

General Catalyst kicked off FuturePresent, a dedicated AI investment vehicle, with Cherry and another partner. They're putting $300 million into startups creating AI tools that solve real business problems today, not just futuristic moonshots. The core idea is to cut through AI buzz and back companies ready to generate revenue now. It matters because it shows top VCs shifting from wild speculation to proven, deployable AI tech that could reshape industries fast.