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Endeavor Catalyst has closed its fifth fund at $320 million, targeting investments in up to 150 startups outside traditional technology hubs. The fund brings its assets under management to more than $850 million, with an increasing focus on artificial intelligence, deep tech and technical infrastructure.
Cem Duran, general manager of Boğaziçi Üniversitesi Teknopark, said that artificial intelligence is present in almost all new projects arriving at the complex, while the number of research and development companies there rose from about 30 to 150 over three years. The complex plans to increase the number of research and development engineers to around 3,000 next year.