Press release:
Endeavor Catalyst, the venture capital arm of the global entrepreneurship network Endeavor, has closed its fifth fund at $320 million as it seeks to expand investments in technology startups outside traditional venture capital hubs.
The oversubscribed fund is Endeavor Catalyst's largest to date, bringing its total assets under management to more than $850 million.
The fund attracted approximately 400 limited partners, including technology founders and institutional investors. Its backers include Reid Hoffman, Bill Ackman and Prosus, alongside founders of companies such as Nubank, Revolut, Checkout.com, Snowflake and Careem.
Around 30% of the fund's investors are entrepreneurs from Endeavor's own network, reflecting a model in which successful founders reinvest in the next generation of companies.
Investing beyond traditional technology hubs
Endeavor Catalyst plans to invest in up to 150 companies through Fund V, with individual investments typically ranging from $1 million to $3 million.
Unlike venture capital firms that lead funding rounds, Endeavor Catalyst operates as a co-investor. Companies must first be selected into Endeavor's global entrepreneurship network and secure an institutional-led funding round of at least $5 million to qualify for investment.
The fund invests on the same terms as the lead investor, with its participation generally limited to 10% of an individual funding round.
Its strategy focuses on companies founded or led by entrepreneurs operating outside established technology hubs, including markets across Latin America, Europe, the Middle East, Africa and Asia.
Around 90% of Endeavor Catalyst's investments are outside the United States. Latin America remains its largest investment region, while Europe has seen increasing activity, with 12 new investments in the first half of 2026, compared with 14 throughout 2025.
Portfolio and new investments
Fund V has already started deploying capital into companies including Replit, Moove, Preply, Cashea, Respond.io, EnduroSat, HappyRobot and Lunar Outpost.
The portfolio reflects the fund's exposure to sectors including artificial intelligence, enterprise technology, financial services and mobility, with investments in companies operating across emerging and established markets.
Endeavor Catalyst is also increasing its focus on deep technology, foundational AI, cloud infrastructure and repeat founders developing AI applications.
Since its establishment in 2012, Endeavor Catalyst has invested more than $500 million across its portfolio.
As of September 22, 2026, the firm had backed 437 companies across 44 markets, including 83 companies valued at $1 billion or more. Its portfolio has recorded 39 exits and 11 IPOs, with investments including ElevenLabs, Bending Spoons, Reflection AI, Checkout.com and Flutterwave.
Endeavor Catalyst expects to deploy an additional $25 million to $30 million during the remainder of 2026.
The new fund is managed by Allen Taylor, managing partner, and Jackie Carmel, managing director, alongside the firm's wider investment team.
The fundraising comes as global venture capital investment becomes increasingly concentrated in large AI companies and established technology centres. Endeavor Catalyst is pursuing a different strategy, using Endeavor's network of more than 3,100 entrepreneurs across over 50 countries to identify high-growth companies in markets that have traditionally attracted less international venture capital.