Key Takeaways
- • Mistral AI raised a €595 million Series B round, valuing the French generative AI startup at €5.8 billion post-money, according to Latham & Watkins.
- • General Catalyst and DST Global led the round, with participation from a16z (Andreessen Horowitz) and other investors.
- • The valuation roughly 2.9x the €2 billion post-money valuation set at Mistral AI's €385 million Series A in December 2023.
- • Latham & Watkins advised General Catalyst and a16z on the financing, with Paris partner Simon Lange leading the General Catalyst team and Paris partner Pierre-Louis Cléro leading the a16z team.
Summary
Latham & Watkins LLP has advised General Catalyst and a16z (Andreessen Horowitz) on the €595 million Series B financing round of Mistral AI, a French start-up specializing in generative artificial intelligence, according to the firm's announcement dated June 11, 2024. The round values Mistral AI at €5.8 billion on a post-money basis.
The round was led by General Catalyst and DST Global, with participation from a16z and other investors. The firm described the company as one of the most promising startups in generative AI.
The financing follows Mistral AI's €385 million Series A round in December 2023, which Latham also advised on for General Catalyst and a16z. That round valued the company at €2 billion, meaning the post-money valuation has increased roughly 2.9 times in about six months.
On the advisory side, the Latham team advising General Catalyst was led by Paris partner Simon Lange, with associate Christos Ierna and Boston partner Stephen Ranere. The team advising a16z was led by Paris partner Pierre-Louis Cléro, with counsel Xavier Nassoy.
The round was led by General Catalyst and DST Global, with participation from a16z and other investors. The firm described the company as one of the most promising startups in generative AI.
The financing follows Mistral AI's €385 million Series A round in December 2023, which Latham also advised on for General Catalyst and a16z. That round valued the company at €2 billion, meaning the post-money valuation has increased roughly 2.9 times in about six months.
On the advisory side, the Latham team advising General Catalyst was led by Paris partner Simon Lange, with associate Christos Ierna and Boston partner Stephen Ranere. The team advising a16z was led by Paris partner Pierre-Louis Cléro, with counsel Xavier Nassoy.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.