Spark is rumored to be raising billions as VC megafund returns with General Catalyst

Following last month’s news that New York’s hottest venture firm, Thrive, raised $10 billion for a new fund, its largest ever and double its previous raise, another major VC firm is trying to match that amount. General Catalyst is in talks to raise $10 billion, anonymous sources told Bloomberg. The company, which has reinvented itself as a broader financial services company, raised $8 billion just a few years ago in 2024.

Meanwhile, Spark Capital is looking to raise $3 billion, sources told The Information, which would also be a big boost from its previous fund. And Founders Fund is also closing on a new $6 billion fund, as TechCrunch exclusively reported.

All of this follows Andreessen Horowitz’s $15 billion in new funding announced in January.

Venture companies already had a record amount of dry powder, or available but uninvested capital, at the end of 2025, according to PitchBook and the National Venture Capital Association’s year-end report. But 2026 is already shaping up to be a bigger year, at least for venture companies with name recognition and enviable portfolios.

The obvious prediction is that venture capital will have plenty of money to continue backing seed-stage AI startups with huge initial rounds and valuations. Record funding rounds for startups (as far as AI goes) will continue to be the new normal in 2026.