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General Catalyst Seeks to Raise $650 Million for Tech Fund

General Catalyst Partners, the venture-capital firm co-founded by Joel Cutler, is seeking to raise $650 million for a new fund that will invest in technology companies.

The firm, based in Cambridge, Massachusetts, is targeting about $450 million for its General Catalyst Group VI LP fund, which will focus on consumer Internet, social media and technology businesses, according to marketing materials sent to investors in October and reviewed by Bloomberg News. It is also attempting to gather about $200 million for a supplemental vehicle that will invest in larger deals with the main fund, according to the marketing document.