Joel Cutler

Joel Cutler
Nationality	American
Occupation	Venture capitalist
Employer	General Catalyst
Known for	Co-founder and managing director of General Catalyst

Joel Cutler is an American venture capitalist who co-founded General Catalyst, a global venture capital firm headquartered in Cambridge, Massachusetts. As managing director of the firm, Cutler has played a central role in shaping General Catalyst's investment strategy across sectors including travel technology, healthcare, financial technology, and enterprise software. He is known for his early involvement in the founding of KAYAK, the online travel search engine, which he helped start in 2004. Under Cutler's leadership alongside other partners, General Catalyst has grown into one of the most prominent venture capital firms in the United States, having invested in more than 800 businesses including companies such as Airbnb, HubSpot, Stripe, Snap, Livongo, Samsara, Deliveroo, and Anduril Industries. Through multiple fund cycles, General Catalyst has raised billions of dollars in capital, and Cutler has been recognized in the Boston technology community as a significant figure in venture investing.

Career

General Catalyst

Joel Cutler co-founded General Catalyst, which grew to become a major global venture capital firm based in Cambridge, Massachusetts. The firm makes investments across the full spectrum from seed stage to growth stage and beyond. As managing director, Cutler has been involved in guiding the firm's investment philosophy and portfolio development over the course of more than two decades.

General Catalyst's portfolio has included investments in a wide range of notable technology companies. Among the firm's most prominent investments are Airbnb, Anduril Industries, Canva, Glean Technologies, Guild Education, HubSpot, KAYAK, Datalogix, Datto, Livongo, Gusto, Zepto, Ramp, Deliveroo, Samsara, Stripe, Snap, Circle, Mistral, and Helsing.

Fund Raising and Growth

Under Cutler's co-leadership, General Catalyst has raised multiple investment funds of increasing size over the years. In December 2013, the firm raised a $675 million seventh fund, which represented a significant expansion in its investment capacity. That fund was also noted for its role in expanding General Catalyst's presence in Silicon Valley, complementing its established Boston-area operations.

In March 2020, amid the early stages of the COVID-19 pandemic, General Catalyst raised $2.3 billion across multiple funds, a notable fundraising achievement during a period of considerable economic uncertainty. The firm continued to pursue larger fundraising targets even during periods of broader market downturns. According to The Wall Street Journal, General Catalyst sought bigger funds despite a downturn in the broader venture capital market.

In 2018, Goldman Sachs acquired a $200 million stake in General Catalyst, further demonstrating the firm's stature within the venture capital industry.

Healthcare Investments

General Catalyst has developed a significant presence in healthcare technology investing. In July 2022, the firm launched a $670 million healthcare-focused fund, proceeding with the initiative despite a broader pullback in venture capital investments during that period. The healthcare fund represented a strategic expansion for the firm into a sector that Cutler and his partners identified as ripe for technology-driven transformation. Becker's Hospital Review profiled General Catalyst's healthcare strategy, noting that the firm merited attention from the healthcare industry despite its relatively unassuming name.

Travel Technology

Cutler has been particularly noted for his involvement in travel technology investments. He helped start the online travel agency KAYAK in 2004, which became one of the leading travel search platforms before its acquisition by The Priceline Group. In a 2014 interview with PhocusWire, Cutler discussed his approach to travel startup investing, with the publication noting his particular ability to identify promising travel technology companies.

Seed-Stage Program

In March 2019, General Catalyst established a new seed-stage investment program, described by TechCrunch as "aggressive." The program represented a formalization and expansion of the firm's earliest-stage investing activities, allowing it to compete more directly with dedicated seed funds while leveraging General Catalyst's broader platform and follow-on investment capabilities.

International Expansion

Under the leadership of Cutler and other partners, General Catalyst expanded its operations internationally. In February 2021, the firm pushed further into Europe and Israel by hiring Chris Bischoff to establish a London office, marking a significant step in the firm's geographic diversification beyond its American roots.

The firm also expanded its focus to India, where it expected to invest $100 million in Indian startups, according to The Hindu BusinessLine. The Times of India reported that General Catalyst planned to boost its India investments as part of a broader strategy to tap into emerging technology markets outside of the United States.

Silicon Valley Bank Response

In March 2023, following the collapse of Silicon Valley Bank, General Catalyst was among the venture capital firms that responded publicly. The firm, along with other VC firms, issued a statement of support during the banking crisis. Top venture capitalists, including those at General Catalyst, gathered to discuss the SVB collapse and vowed to be supportive of the startup ecosystem during the crisis. General Catalyst was among the venture firms that had custodied assets at Silicon Valley Bank, according to Fortune.

Co-Founder Departure

In 2012, General Catalyst experienced an organizational change when the firm lost a co-founder, as reported by Fortune. Cutler remained with the firm as managing director, continuing to guide its investment strategy and operations through subsequent years of growth.

Recognition

Joel Cutler has received recognition within the technology and business communities for his work as a venture capitalist. The Boston Globe included Cutler in its coverage of technology power players, profiling him as the cofounder and managing director of General Catalyst and noting his role in helping to start KAYAK.

PhocusWire, a travel industry publication, profiled Cutler in 2014 as a notable figure in travel technology investing, highlighting his track record of identifying successful travel-related startups.

General Catalyst's growth under Cutler's co-leadership into a firm managing billions of dollars in assets, with investments in globally recognized companies and operations spanning multiple continents, has established the firm as one of the most significant venture capital practices in the technology industry. The firm's decision to raise substantial capital during periods of market uncertainty — including the $2.3 billion raise during the early COVID-19 pandemic and the launch of a $670 million healthcare fund during a venture capital pullback — reflected an investment philosophy under Cutler and his partners that favored countercyclical positioning.

Legacy

Joel Cutler's legacy is closely linked to the development of General Catalyst from its founding into a global venture capital firm with a portfolio spanning hundreds of companies across multiple sectors and geographies. The firm's investments in companies that became publicly traded or achieved significant scale — including KAYAK, HubSpot, Airbnb, Stripe, and Snap — contributed to its reputation as a firm capable of identifying and supporting companies from early stages through public markets.

General Catalyst's expansion into healthcare investing, international markets in Europe, Israel, and India, and its establishment of a dedicated seed-stage program reflected a broad strategic vision that evolved under Cutler's tenure as managing director. The firm's response during the Silicon Valley Bank crisis in 2023, when it joined with other leading venture firms to support the startup ecosystem, further demonstrated its role as an institutional pillar within the venture capital industry.

The firm's growth to more than 250 employees and its investment activity across global markets positioned General Catalyst as one of the larger independent venture capital firms operating from the East Coast of the United States, with Cutler's role as co-founder placing him among the influential figures in the Boston-area technology and investment community.