General Catalyst Global Resilience Merger Corp. is a SPAC (blank check company) incorporated in the Cayman Islands in January 2026 with no operating history. Its sole purpose is to raise capital through an IPO and use the proceeds to acquire one or more private businesses, completing an "initial business combination" that brings those businesses public. The company raised $350M through an IPO of 35M units at $10.00 each, with proceeds held in a trust account pending deployment. General Catalyst, the VC firm backing this SPAC, manages $45.5B in AUM and has invested in defense and industrial companies including Anduril, Helsing, and Samsara. The SPAC focuses its acquisition search on three sectors: defense and government tech (AI-enabled military systems, cybersecurity, unmanned platforms), industrials and manufacturing (automation, robotics, reshoring), and energy and infrastructure (grid modernization, distributed energy). A key feature is the "GRAIL" (Global Resilience Aligned Initial Listing) sponsor incentive structure, which General Catalyst argues improves on the traditional SPAC model. Rather than receiving 20% founder shares that convert regardless of performance, the sponsor receives 12.5% alignment shares that convert in 10 annual tranches over 10 years, with each tranche's conversion ratio tied to stock performance — converting at a steep discount if the stock underperforms $10.00, and yielding meaningful equity only if public shareholders are first in the money. The company has 24 months (extendable to 27) to close a deal, or it liquidates and returns trust proceeds to shareholders.