Hemant Taneja
{{Short description|American venture capitalist}}{{Infobox person
| education = Massachusetts Institute of Technology
| occupation = CEO of General Catalyst
}}
Hemant Taneja is the CEO and managing director of General Catalyst, a venture capital firm with investments in Stripe, Snap, and Mistral, among others.{{Cite web |last=Hammond |first=George |date=28 April 2024 |title=Silicon Valley's General Catalyst closes in on $6bn fund for tech start-ups |url=https://www.ft.com/content/17c03819-4566-4fd2-b0b4-45f5677d8749 |access-date=2024-09-13 |website=Financial Times}}{{Cite news |date=19 February 2024 |title=A Venture Capitalist's View of AI: Where the Money Is |url=https://www.wsj.com/tech/ai/making-money-ai-hemant-taneja-6e3017ae |access-date=17 September 2024 |work=The Wall Street Journal}}{{Cite web |last=Torrence |first=Rebecca |title=A top investor in global brands from Airbnb to Snap says we need swift 'guardrails' to get countries on the same page about AI |url=https://www.businessinsider.com/general-catalyst-ceo-need-international-guardrails-on-ai-2024-2 |access-date=2024-09-17 |website=Business Insider |language=en-US}} Taneja has been CEO and managing director since 2021. Under his leadership, General Catalyst has Assets Under Management (AUM) of over $27.3 billion;{{Cite web |title=IAPD - Investment Adviser Public Disclosure - Homepage |url=https://adviserinfo.sec.gov/firm/summary/162548 |access-date=2024-11-19 |website=adviserinfo.sec.gov}}{{Cite web |title=Hemant Taneja |url=https://www.forbes.com/profile/hemant-taneja/ |access-date=2024-09-13 |website=Forbes |language=en}} raised almost $8 billion in 2024 to invest in technology start-ups across industries including defense, space, climate, fintech, and healthcare; bought a hospital and partnered with others to trial new models of care under the Health Assurance Transformation Corporation (HATCo);{{Cite web |last=Adams |first=Katie |date=2024-01-18 |title=Is General Catalyst Buying Summa Health a Good Idea? Only Time Will Tell |url=https://medcitynews.com/2024/01/general-catalyst-health-system-venture-capital/ |access-date=2024-09-23 |website=MedCity News |language=en-US}}{{Cite web |date=2023-10-10 |title=General Catalyst announces new healthcare company, intent to purchase health system |url=https://www.mobihealthnews.com/news/general-catalyst-announces-new-healthcare-company-intent-purchase-health-system |access-date=2024-09-23 |website=MobiHealthNews |language=en}} and expanded internationally, merging with European investor La Famiglia and Indian investor Venture Highway.{{Cite web |last=Singh |first=Manish |date=2024-06-20 |title=General Catalyst merges with Venture Highway in India push |url=https://techcrunch.com/2024/06/19/general-catalyst-india-venture-highway/ |access-date=2024-09-23 |website=TechCrunch |language=en-US}}
Investments
Taneja's investments include Stripe, Snap, Anduril, Grammarly, Gusto, and Samsara. He invested in Hippocratic AI, an LLM designed for healthcare that was launched in 2023.{{Cite web |last=Adams |first=Katie |date=2023-05-16 |title=Meet the Startup Promising to Deliver the 1st Healthcare-focused Generative AI Model |url=https://medcitynews.com/2023/05/chatgpt-gpt4-burnout-generative-ai-healthcare-workforce-general-catalyst-andreessen-horowitz/ |access-date=2024-09-17 |website=MedCity News |language=en-US}} Hippocratic CEO Munjal Shah said that he and Taneja came up with the idea for the startup together.
Taneja also founded two health-focused companies: Livongo (co-founded), which was later acquired by Teladoc Health in an $18.5 billion merger, and Commure (valued at $6 billion), which later merged with Athelas.{{Cite web |date=21 June 2024 |title=Sixteen Indian Americans among Business Insider's 'The Seed 100' |url=https://www.theindianpanorama.news/indians-abroad/indians-abroad-indians-abroad/sixteen-indian-americans-among-business-insiders-the-seed-100/ |access-date=13 September 2024 |website=The Indian Panorama}}
Under Taneja's leadership, General Catalyst raised an $8 billion fund, marking one of the largest in the venture capital industry. This fund aims to support sectors such as healthcare, climate technology, and AI. Reports on the fund highlight Taneja's approach to broadening the firm's investment reach and reinforcing its position in the global market.{{Cite news |last=Hammond |first=George |date=2024-10-24 |title=Silicon Valley's General Catalyst raises $8bn in global push |url=https://www.ft.com/content/e5502f81-6d89-4a9c-8242-1a3f161de2ca |access-date=2024-11-18 |work=Financial Times}}{{Cite web |last=Bradbury |first=Rosie |date=24 October 2024 |title=General Catalyst's $8B haul cements return of mega-funds |url=https://pitchbook.com/news/articles/general-catalysts-8-billion-vc-mega-funds#:~:text=Hemant%20Taneja%27s%20General%20Catalyst%20came,date%2C%20according%20to%20PitchBook%20data. |access-date=18 November 2024 |website=Pitchbook}}
General Catalyst, guided by Taneja, has committed $1 billion toward investments in healthcare innovation, focusing on partnerships that aim to improve healthcare delivery through technology.{{Cite web |last=Perna |first=Gabriel |date=24 October 2024 |title=General Catalyst to invest $1B into healthcare companies |url=https://www.modernhealthcare.com/digital-health/general-catalyst-investment-healthcare-companies-startups |access-date=12 November 2024 |website=Modern Healthcare}}{{Cite web |date=2024-10-25 |title=General Catalyst raises $8B in new funds |url=https://siliconcanals.com/general-catalyst-raises-8b-in-new-funds/ |access-date=2024-11-14 |website=siliconcanals.com |language=en-GB}}
Responsible Innovation
In 2023 Taneja co-founded a nonprofit, the Responsible Innovation Labs,{{Cite web |last=Harris |first=Ainsley |date=19 November 2023 |title=The AI safety debate is tearing Silicon Valley apart |url=https://www.fastcompany.com/90985788/openai-ai-safety-debate-silicon-valley-andreessen-general-catalyst |access-date=19 September 2024 |website=Fast Company}} that partnered with the U.S. Commerce Department to lead an initiative to encourage early-stage startups to develop AI responsibly: the Responsible AI Initiative.{{Cite web |last=Confino |first=Paolo |title=Commerce Department partners with major VC firms encourage startups to be "responsible" in AI use |url=https://fortune.com/2023/10/03/commerce-department-and-vc-firms-partner-to-encourage-responsible-ai-use-for-startups/ |access-date=2024-09-19 |website=Fortune |language=en}} In November 2023, Taneja shared that over 35 venture capital firms and 15 companies had signed a set of "Responsible AI" commitments authored by the Responsible Innovation Lab. The nonprofit also published the Responsible AI Protocol, described as a "how-to playbook".
Taneja has emphasized the need for responsible AI practices within the industry, advocating for ethical guidelines and regulatory frameworks. In interviews, he discusses AI's potential to reshape industries and stresses the importance of adopting responsible standards, as reflected in General Catalyst's role in the Responsible AI Initiative, which supports ethical AI development for early-stage startups.{{Cite web |last=Garfinkle |first=Allie |title=General Catalyst's Hemant Taneja on AI, LPs, and raising around $8 billion |url=https://fortune.com/2024/10/25/general-catalysts-hemant-taneja-on-ai-lps-and-raising-around-8-billion/ |access-date=2024-11-14 |website=Fortune |language=en}}{{Cite web |date=2024-10-24 |title=General Catalyst CEO Hemant Taneja on the investing landscape, impact of AI technology |url=https://www.cnbc.com/video/2024/10/24/general-catalyst-ceo-hemant-taneja-on-the-investing-landscape-impact-of-ai-technology.html |access-date=2024-11-14 |website=CNBC |language=en}}
Books
Taneja wrote the following books:
- Intended Consequences: How to Build Market-Leading Companies with Responsible Innovation (2022){{Cite web |title=View From The Top: Hemant Taneja |url=https://www.gsb.stanford.edu/events/view-top-hemant-taneja |access-date=2024-09-13 |website=Stanford Graduate School of Business |language=en}}
- UnHealthcare (2020), {{ISBN|1716996511|978-1716996511}}
- Unscaled (2018){{Cite web |date=2017-08-08 |title=Hemant Taneja |url=https://www.hachettebookgroup.com/contributor/hemant-taneja/?lens=publicaffairs |access-date=2024-09-13 |website=Hachette Book Group |language=en-US}}{{Cite book |url=https://www.hachettebookgroup.com/titles/hemant-taneja/unscaled/9781610398121/?lens=publicaffairs |title=Unscaled |date=2017-08-08 |isbn=978-1-61039-812-1 |language=en-US |last1=Taneja |first1=Hemant |publisher=PublicAffairs }}
Philanthropy
Taneja and his wife are members of the Giving Pledge.{{Cite web |last=Olakoyenikan |first=Segun |title=Open AI's Sam Altman Just Vowed To Donate Most Of His Wealth Through Giving Pledge |url=https://www.forbes.com/sites/segunolakoyenikan/2024/05/28/open-ais-sam-atman-and-8-other-billionaires-just-vowed-to-donate-most-of-their-wealth-through-giving-pledge/ |access-date=2024-09-19 |website=Forbes |language=en}} By signing the pledge, they commit to donating the majority of their wealth in their lifetimes or after their death.
In 2018, Taneja gave a gift in support of MIT.nano, the new center for nanoscience and nanotechnology at MIT.{{Cite web |title=Education Meets Innovation |url=https://betterworld.mit.edu/education-meets-innovation/ |access-date=2024-09-19 |website=MIT for a Better World |language=en}} His donation created the Shiv and Santosh Taneja Innovation Alcove (named for his parents).
Taneja also helped build the Khan Lab School, a school that uses the MIT systems thinking approach for elementary education. He serves on the Stanford School of Medicine Board of Fellows, and the board of trustees for Northeastern University. He is also the co-founder and chairman of Advanced Energy Economy (now Advanced Energy United).{{Cite web |last=Kaufmann |first=K. |date=2023-01-06 |title=New Mission Means New Name for Advanced Energy Economy |url=https://www.rtoinsider.com/31391-new-mission-means-new-name-advanced-energy-economy/ |access-date=2024-09-19 |website=RTO Insider |language=en-US}}{{Cite web |last=Mello-Klein |first=Cody |date=0909 |title=Hemant Taneja, a venture capitalist and global thought leader, appointed to Northeastern University Board of Trustees |url=https://news.northeastern.edu/2024/07/29/hemant-taneja-board-of-trustees/ |access-date=2024-09-19 |website=Northeastern Global News |language=en-US}}
Early life and education
References
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