Endeavor Catalyst, the investment arm of the global entrepreneurship network Endeavor, has closed its fifth fund at $320 million in the largest fundraising round in its history. The closing brings the organization’s total assets under management to more than $850 million, as the fund moves to finance fast-growing startups outside traditional venture capital hubs.
The fund attracted around 400 investors, including the founders of Nubank, Revolut and Checkout.com, as well as Reid Hoffman, Bill Ackman and Prosus. Entrepreneurs who are members of the Endeavor network account for around 30% of the investors, reflecting a model in which founders of successful companies reinvest their capital in new startups.
How will the fund invest?
Endeavor Catalyst plans to invest in up to 150 companies, with funding typically ranging from $1 million to $3 million per company. The fund does not independently lead funding rounds; instead, it participates alongside institutional investors that lead the round.
The investment model requires the company’s founders to be part of the Endeavor network and the company to have raised a funding round of at least $5 million led by another institutional investor. Endeavor Catalyst participates on the same terms as the lead investor, with its contribution capped at 10% of the round’s total value.
Focus on markets less attractive to capital
The fund targets companies in Latin America, Europe, the Middle East, Africa and Asia, with investments outside the United States accounting for around 90% of Endeavor Catalyst’s portfolio. Latin America remains its largest investment market, while European activity accelerated with 12 new investments made during the first half of 2026, compared with 14 investments throughout 2025.
The fund has already begun investing in companies including Replit, Moove, Preply and Cashea, alongside companies in financial technology, artificial intelligence and deep tech. The portfolio includes Replit, an AI-powered coding platform, and Moove, which operates in financial technology and mobility.
What does this mean for startups?
The strategy provides an additional funding channel for companies with an existing institutional round that also meet the requirement of being connected to the Endeavor network. This means the fund does not operate as a general alternative to venture capital funds, but as a participation mechanism that leverages a global network of entrepreneurs to reach companies in markets receiving less attention from international investors.
Since Endeavor Catalyst was launched in 2012, it has invested in 437 companies across 44 markets, including 83 companies each valued at $1 billion or more. The portfolio has recorded 39 exits and 11 initial public offerings, and includes companies such as ElevenLabs, Bending Spoons, Reflection AI, Checkout.com and Flutterwave.
The organization also expects to increase its investments in companies founded by repeat entrepreneurs; this group accounted for around 14% of the fourth fund’s investments, with that share expected to rise to 20% in the fifth fund. The fund is led by Allen Taylor and Jackie Carmel, alongside an investment team of 16 members.