General Catalyst Group XI - Ignition, L.P.
General Catalyst · adviser of record: General Catalyst Group Management, LLC · 2021 vintage
General Catalyst Group XI - Ignition, L.P. is a 2021 venture fund managed by General Catalyst, with $4.6bn raised (Form D, amount sold). It reported $1.99bn in gross assets at year-end 2025, 0.43x its size, its highest reported value.
- Latest value held
- $1.99bn year-end 2025
- Peak
- $1.99bn year-end 2025
- Fund size
- $4.6bn Form D, amount sold
- Held vs. size
- 0.43x peak 0.43x
Value held by year-end
Gross asset value reported on Form ADV at each year-end. Dashed line: fund size. Open in the Fund Tracker
| Year-end | Gross assets | ÷ size | Change |
|---|---|---|---|
| 2025 | $1.99bn | 0.43x | +80% over 2 yrs |
| 2023 | $1.11bn | 0.24x | +2% |
| 2022 | $1.09bn | 0.24x | +385% |
| 2021 | $224mm | 0.05x | – |
What public pensions report
| Investor | As of | Commitment | Cash back (DPI) | Total (TVPI) | Still held |
|---|---|---|---|---|---|
| LACERS | 2025-12-31 | $18mm | 0.00x | 1.65x | 1.65x |
Latest report from each pension, as multiples of paid-in capital. Michigan reports dollar value held, shown under Still held.
What registered funds report
| Holder | As of | Value of stake | Value ÷ cost |
|---|---|---|---|
| Franklin Lexington Private Markets Fund | 2026-03-31 | $5.2mm | – |
From SEC Form N-PORT, filed by mutual funds and other registered funds that hold an interest in this fund.
Other funds from General Catalyst
- General Catalyst Group XII, L.P. 2023
- General Catalyst Group XII - Creation, L.P. 2023
- Bear Coast (Ventures) Fund, LP 2023
- General Catalyst Group XII - Ignition, L.P. 2023
- General Catalyst Group XII - Endurance, L.P. 2023
- General Catalyst Group XII - Health Assurance, L.P. 2023
- GC Venture XI (S), LP 2023
- General Catalyst Group XI - Endurance, L.P. 2021
- General Catalyst Group XI - Creation, L.P. 2021
- General Catalyst Group XI - Health Assurance, L.P. 2021
- General Catalyst Group XI - Feeder, L.P. 2021
- GC Group XI Holdings, LLC 2021
About these numbers
Gross asset value is what the manager reports holding in the fund at each fiscal year-end, on SEC Form ADV, Schedule D. It includes the GP’s own commitment and is before carried interest, so it is not the LPs’ net return, and it does not show cash already distributed. A fall in value can mean distributions, markdowns or both. Fund size is the amount sold reported on Form D, which for some funds reflects only a first close. Private fund ID 805-8682386183. Data updated October 13, 2026.
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